In September, they launched their largest-ever catalog, Defining Uniforms, which introduced their newest uniform collections. Their customers will now have unprecedented access to high-quality and fashionable work attire at an exceptional value. These products will help us to grow several of their focal markets; particularly Hospitality and Healthcare where see tremendous opportunity for increased market penetration.
Gross margins were significantly lower in the quarter as a result of several factors; primarily lower production volume to absorb overhead costs and increased charges for obsolescence as a result of declining sales prior to the release of the new products in the Defining Uniforms catalog.
Selling and administrative expenses for the third quarter were down slightly from the prior year period despite recognizing approximately $250,000 in costs associated with settlements of pension liabilities as a result of the significant number of positions eliminated in their work force during the current year.
They recognize their results have been less than satisfactory in this tumultuous year. However, they strongly believe that the moves we have made this year will benefit the Company and its shareholders in the long-term."
US based Superior Uniform Group manufacturers uniforms, career apparel and accessories through its Signature marketing brands - Fashion Seal, Fashion Seal Healthcare, Martin's, Worklon, Sope Creek and UniVogue - manufactures and sells a wide range of uniforms, corporate I.D., career apparel and accessories for the hospital and healthcare fields; hotels; fast food and other restaurants; and public safety, industrial, transportation and commercial markets, as well as corporate and resort embroidered sportswear.
Superior Uniform Group Inc
marketing@alchempro.com
