Four TRSA Members in ‘Apparel Top 50’

Posted August 11, 2016 at 4:59 pm

Two TRSA member textile services operators and two associates are among Apparel’s Top 50, a list in the magazine’s July issue of companies traded on a U.S. stock exchange with at least $100 million in annual sales, ranked by profit margin for the most recent fiscal year:

  • #7 VF Corp. (parent company of Red Kap); 9.95%
  • #8 Cintas Corp.; 9.62%
  • #12 UniFirst Corp.; 8.53%
  • #21 Superior Uniform Group; 6.23%

The article’s summary of VF Corp.developments focused mainly on growth in its consumer brands, including its Timberland, Lee, Wrangler and North Face businesses. The latter has scored big with its online “Never Stop Exploring” campaign, which has generated more than 1 billion impressions. Each of these brands earned more than $1 billion in yearly revenue.

Cintas registered a robust 9% hike in sales for the most recent nine months ending in February, with net income up 72.9% and profitability up 15.5%. In January, Cintas launched its first national consumer branding campaign, “Ready for the Workday,” including TV, radio, print and online advertising. Recent growth has come largely from new customers, sales of additional products and services to existing customers and strong business retention. Organic growth has confronted the obstacle of reduced opportunities for uniform business due to the downturn in the oil, gas and coal industries.

UniFirst had a record year in which it hit $1.5 billion in revenues and $124.3 million in net income, also despite the energy downturn. Core industrial laundry operations account for 90% of total business. President and CEO Ronald Croatti said the growth figures were especially compelling, given the challenges facing today’s market. “Many potential obstacles each year can have profound ripple effects on our business. I’m extremely proud of our team’s efforts to skillfully navigate the course year after year with our customers’ satisfaction firmly in mind,” he said.

Superior recently completed a $15.8-million acquisition of Los Angeles-based Bamko, a full-service merchandise sourcing and promotional products company with subsidiaries in Asia, South America and Europe, the article said. This acquisition could enhance the company’s position in retail, healthcare, food service and other markets. In January, Superior opened its first company-managed manufacturing plant in nearly 20 years with a lease agreement on a factory in Haiti. The new plant is expected to employ 150 people by the end of this year.

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