Staffing 360 Solutions Provides 2020 Overview

Previews Fiscal 2019 Revenue

NEW YORK, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Staffing 360 Solutions, Inc. (NASDAQ: STAF), a company executing an international buy-integrate-build strategy through the acquisition of staffing organizations in the United States and the United Kingdom, today provided its 2020 outlook and previewed fiscal 2019 revenue results.

Brendan Flood, Chairman and CEO said, “For many reasons 2020 is already shaping up to be a highly productive year for us as outlined in our 2020 overview.”

2020 Overview

• On a macro level, there is growing optimism in the business media that the world economy will continue on a strong path in 2020.
    - We operate in both the US and the UK and those economies are strong.
    - Staffing Industry Analysts (SIA) recently said that the worst of the temp slowdown may be behind us.
    - Brexit should commence the end of this month, allowing for more certainty about the UK economic outlook.
• From a corporate perspective, we are still experiencing very strong demand for candidates in each of our business streams (for contract and permanent talent) and we are making solid progress adding new clients.
    - Cross-sales within the US and within the UK continue to build on recent successes
       - All four US & UK brands successfully collaborated on a new US-based project late in Q4. We see these new inter-country cross-sales opportunities growing as well.
    - Our fourth quarter engagement of R.W. Baird (a multinational independent investment bank and financial services company) is active as they assist us with strategic acquisitions – and the related refinancing of our balance sheet to accommodate any successful transactions.
       - That work progresses simultaneously down two paths. First combined acquisition and refinance and second for standalone debt refinance.
• UK Professional
    - Clement May – continuing to build upon January 2019 three-year extension with client British American Tobacco, with placements both inside and outside the US.
    - CBSbutler – permanent placements off to a healthy start, that pipeline is strong. Contract placements up in December. Seeing new demand in pharmaceutical and aviation markets.
    - JM Group – growing contract placements for Information Security.
• US Professional
    - firstPRO – strong 2019 finish for contract placements with headcount still increasing; permanent placement also increasing. Actively targeting and producing higher level contract placements to increase margins; anticipate increased performance.