News May 05, 2020
BAMKO’s Parent Firm to Donate $5 Million Worth of Scrubs
Superior Group of Companies (SGC), parent firm of Los Angeles-based Top 40 promotional products distributor BAMKO (asi/131431), is donating $5 million worth of its WonderWink and Fashion Seal Healthcare brand scrubs to hospitals and healthcare facilities in areas where the COVID-19 pandemic is hitting hard.
In a statement, SGC said that it’s partnering with New York Gov. Andrew Cuomo’s Central Coordinating Team to distribute scrubs to hospitals in the Empire State, which has more confirmed coronavirus cases and deaths than any other state.
Superior is also working with the Texas Division of Emergency Management to get scrubs to hospitals in the Lone Star State. The same effort is underway for Arkansas through a partnership with the Arkansas Economic Development Commission.
Looking to help abroad, SGC is distributing essential scrubs and masks to hospitals and facilities in Haiti through its local operating company Superior Sourcing, and El Salvador, where SGC has a significant presence with The Office Gurus, a global provider of custom call center support and business process solutions.
“Superior Group of Companies has been outfitting essential healthcare professionals in quality work apparel for 100 years, so we are proud to carry on that rich tradition in this moment of need,” said SGC CEO Michael Benstock. “With these scrubs, we hope to help the frontline professionals who continue their heroic care of patients battling COVID-19.”
SGC recently announced that global net sales for all its business divisions increased 8.9% year over year to $94.2 million in the first quarter of 2020. Quarterly net income was $3.4 million, or $0.22 per diluted share, compared to $2.4 million or $0.16 per diluted share for Q1 2019. The company’s healthcare uniform business experienced a huge surge in demand, which helped drive the gains.
Superior also said its promotional products division’s global sales improved 28.6% over the same period the prior year to $26.1 million. BAMKO spearheads the division, which includes former Top 40 distributor Tangerine Promotions. Still, Benstock warned of headwinds for the promo division, saying a “moratorium on events and a reduction of in-store promotions will negatively impact our operating results in this segment as we move forward.”
BAMKO currently ranks 21st on Counselor’s latest list of the 40 largest distributors in the North American promotional products industry. The new rankings are due out this summer.