SPAR Group Announces Expansion of Partnership With Somerset Group, LTD Into the United States
White Plains, NY - August 4, 2014 - SPAR Group, Inc. (Nasdaq:SGRP) ("we", the "Company" or "SPAR Group"), a leading supplier of retail merchandising and other marketing services throughout the United States and internationally, today announced expansion of its partnership with Somerset Group, LTD. ("Somerset") into the United States. SPAR Group and Somerset have maintained a strong working relationship for over 8 years in Canada.
Somerset, acquired by Allegro Media Group in May of 2013, is a producer and distributor of specialty music utilizing unique interactive displays across mass market, toy and specialty retailers. With the expansion into the United States SPAR Group will provide Somerset with merchandising and other marketing services across approximately 6,500 retail doors executing over 30,000 visits annually. Visits are focused on ensuring interactive displays are in proper working order, ensuring display integrity, executing regular music selection changes and updating graphics on the interactive displays.
Jill Blanchard, President and Chief Executive Officer of SPAR Group, stated, "We are excited to bring our longstanding working relationship with Somerset to the United States. After 8 successful years working together In Canada, this is an excellent next step to expanding the value and efficiency we bring to our global customers. This agreement falls in line with our overall strategy to provide fully integrated global solutions to all of our clients."
John Shaw, Senior Vice President North American Sales, at Somerset, stated, "Somerset is looking forward to expanding the present Canadian partnership to include the U.S. We have had a good, strong start and we have every reason to believe that SPAR will be equal to the challenges of our business."
About SPAR Group
SPAR Group, Inc. is a diversified international merchandising and marketing services Company and provides a broad array of services worldwide to help companies improve their sales, operating efficiency and profits at retail locations. The Company provides merchandising and other marketing services to manufacturers, distributors and retailers worldwide, primarily in mass merchandiser, office supply, grocery, drug, independent, convenience, electronics, toy and specialty stores, as well as providing furniture and other product assembly services, audit services, in-store events, technology services and marketing research. The Company has supplied these project and product services in the United States since certain of its predecessors were formed in 1979 and internationally since the Company acquired its first international subsidiary in Japan in May of 2001. Product services include restocking and adding new products, removing spoiled or outdated products, resetting categories "on the shelf" in accordance with client or store schematics, confirming and replacing shelf tags, setting new sale or promotional product displays and advertising, replenishing kiosks, providing in-store event staffing and providing assembly services in stores, homes and offices. Audit services include price audits, point of sale audits, out of stock audits, intercept surveys and planogram audits. Other merchandising services include whole store or departmental product sets or resets (including new store openings), new product launches, in-store demonstrations, special seasonal or promotional merchandising, focused product support and product recalls. The Company operates throughout the United States and internationally in 9 of the most populated countries, including China and India. For more information, visit the SPAR Group's website at www.sparinc.com.
Forward Looking Statements
Certain statements in this news release and made in the update conference call are forward-looking, including (without limitation) expectations or guidance respecting building upon the Company's strong foundation, leveraging compatible global opportunities, improving on the value we already deliver to customers, our growing client base, continuing balance sheet strength, customer contract expansion, growing revenues and becoming profitable through organic growth and acquisitions, attracting new business that will increase SPAR Group's revenues, improving product mix, continuing to maintain or reduce costs and consummating any transactions. Undue reliance should not be placed on such forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company's control. The Company's actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the continued strengthening of SPAR Group's selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued availability of capable dedicated personnel, continued cost management, the success of its international efforts, success and availability of acquisitions, availability of financing and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information regarding certain of those factors and other risk factors and cautionary statements that could affect future results, performance or trends are discussed in SPAR Group's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
SPAR Group, Inc.
James R. Segreto, Chief Financial Officer
Alliance Advisors, LLC Inc.