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BGSF(BGSF) - 2020 Q3 - Quarterly Report
2019-11-05 13:56
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 29, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-36704 BG STAFFING, INC. (exact name of registrant as specified in its charter) Delaware 26-0656684 (State or other jurisd ...
BGSF(BGSF) - 2020 Q2 - Quarterly Report
2019-08-07 13:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-36704 BG STAFFING, INC. (exact name of registrant as specified in its charter) Delaware 26-0656684 (State or other jurisdictio ...
BGSF(BGSF) - 2020 Q1 - Quarterly Report
2019-05-09 13:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-36704 BG STAFFING, INC. (exact name of registrant as specified in its charter) Delaware 26-0656684 (State or other jurisdicti ...
BGSF(BGSF) - 2018 Q4 - Annual Report
2019-03-12 13:20
Revenue Growth - Revenues increased from $35 million in 2009 to $286.9 million in 2018, reflecting a growth strategy reliant on both acquisitions and organic growth[41] - Revenues for the company increased from $35 million in 2009 to $286.9 million in 2018, indicating a significant growth strategy reliant on acquisitions and organic growth[41] Market Demand - The U.S. temporary staffing market is estimated to reach $152 billion in 2019, up from $145 billion in 2018, indicating a growing demand for flexible workforce solutions[29] - The U.S. temporary staffing market is projected to grow from an estimated $145 billion in 2018 to $152 billion in 2019, reflecting a 4.8% increase[29] - The staffing industry is experiencing increased demand in relation to total job growth, as client partners prioritize maintaining a more flexible workforce[28] - The demand for Real Estate staffing services peaks in Q3, while Light Industrial staffing services see increased demand in Q3 and peak in Q4 due to holiday help[46] Company Operations - The company operates through 75 branch offices and 19 on-site locations across 27 states, with no current foreign operations[26] - The company currently operates 51 branch offices in the Real Estate segment across 24 states, utilizing a centralized recruiting model[33] - The Light Industrial segment operates 13 branch offices and 19 on-site locations across 6 states, providing flexible workforce solutions[35] - As of February 4, 2019, the company had 349 team members and assigned approximately 30,000 field talent during the fiscal year ended 2018, with an average of 5,000 field talent working in Q4 2018[48] - As of February 4, 2019, the company had 349 team members at corporate and branch offices, with no labor union representation among team members or field talent[48] Acquisitions and Integration - The company has acquired and successfully integrated nine businesses since 2010, enhancing its operational capabilities and market presence[17] - The company has acquired nine businesses since 2010, enhancing its operational capabilities in various segments[17] - The company plans to continue evaluating acquisition opportunities and expanding into new markets within its current segments[42] Competitive Landscape - The staffing services market is highly competitive, with many companies competing for market share, which could limit the company's ability to maintain or increase profitability[44] - The staffing industry is highly competitive, with approximately 20,000 competing companies, leading to intense price competition[44] - The company’s competitive factors include pay rates, assignment availability, and client partner satisfaction monitoring[45] Workforce Management - The company provides temporary staffing services that help clients convert fixed labor costs to variable costs, addressing the need for flexibility in workforce management[12] - The company focuses on recruiting and maintaining a pool of qualified field talent to meet the needs of its client partners[38] Regulatory Environment - The company is subject to various federal, state, and local regulations, which impose additional financial risks but have not materially affected its business to date[52] Economic Cycles - The staffing industry is cyclical, with revenues increasing quickly during economic growth and decreasing rapidly during downturns[47] Cost Factors - The company’s cost of services typically increases in Q1 due to payroll tax resets, which can affect overall demand[46] Labor Relations - The company does not currently have any team members or field talent represented by a labor union, and has not experienced material labor disruptions[49] Intellectual Property - The company’s intellectual property includes various trademarks and domain names that reinforce brand distinctiveness[51]