BAMKO’s (asi/131431) sales continue to rise.

The Los Angeles-headquartered Top 40 promotional products distributor increased sales year over year by 21% during the third quarter of 2022 to nearly $86.8 million.

Superior Group of Companies (SGC), BAMKO’s publicly traded parent company, reported the strong quarterly performance on Nov. 7.

BAMKO is SGC’s branded-products segment, which includes acquired promo distributors now operating under the BAMKO name and HPI, SGC’s branded-uniform provider that was brought under the BAMKO umbrella this year.

The strong sales marked the second straight quarter in which BAMKO increased quarterly revenue by more than 20% compared to the prior year’s comparable three-month period. In Q2, BAMKO’s sales rose 29% year over year to $102 million.

In Q3, BAMKO’s “increase was primarily due to net sales of $14.4 million attributable to the acquisitions of Sutter’s Mill (Specialties) in Dec. 2021 and Guardian Products in May 2022,” SGC noted in a report.

BAMKO’s 21% third-quarter revenue jump outpaced the industry average. Released this week, the Distributor Quarterly Sales Survey from ASI Research showed that distributors collectively increased sales, on average, by 12.4% in the third quarter of 2022 compared to Q3 2021.

Not too shabby, promo. Not too shabby. https://t.co/E7hTh06sU6

— Chris Ruvo (@ChrisR_ASI) November 10, 2022

Meanwhile, SGC reported quarterly sales growth of 12.5% across all its business divisions, as Q3 revenue reached $139 million. Despite the sales increase, SGC registered a company-wide net loss of $12.7 million, or -$0.80 per share. A pre-tax, non-cash impairment charge was among the factors that hurt SGC’s earnings.

“While sales continue to grow, we recognize that rising interest rates and inflation combined with continued softness in the healthcare apparel market [not in BAMKO’s division] have impacted our earnings,” said SGC CEO Michael Benstock. “We will continue to navigate macro headwinds by leveraging our diversification and the compelling secular growth opportunities across our addressable markets to gain market share. Our growth and efficiency-oriented strategic investments are just beginning to contribute to our results with significant opportunity ahead.”

Based on reported 2021 North American promo products revenue of $215.8 million, BAMKO ranked 11^th on Counselor’s most recent list of the 40 largest distributors in the industry.