SPAR Group Inc (NASDAQ: SGRP) is a merchandising and marketing outsourced services company that executes in-store programs for brand owners, consumer goods manufacturers, distributors, and retailers. Revenue is generated through service contracts covering merchandising resets, price and inventory audits, stock replenishment, promotional event setup, and assembly and installation of products including furniture, fitness equipment, and bicycles. The company describes its role as delivering the 'last two feet' of retail product presentation, working inside retail locations and distribution centers on behalf of clients. As of December 31, 2025, SGRP operates in the United States and Canada after exiting all other international operations in 2024. The company has operated for more than 50 years per its 10-K filed March 31, 2026. SGRP's corporate headquarters relocated from Auburn Hills, Michigan to Charlotte, North Carolina in November 2025. As of January 12, 2026, SGRP received a Nasdaq notice for failing to maintain the minimum $1.00 bid price and faces potential delisting. The company has never declared or paid a cash dividend.

Revenue model

SGRP generates revenue through service contracts with brand owners, manufacturers, distributors, and retailers for merchandising, marketing, category management, and assembly and installation services executed at retail locations and distribution centers. Revenue is transactional and project-based, tied to specific in-store programs and service engagements.

Products and services

Services include: merchandising resets and cut-ins, price and inventory audits, stock replenishment and rotation, out-of-stock management, promotional event setup, store renovations and new store grand opening preparation, distribution center staffing and operations support, in-store product assembly (furniture, bicycles, grills, patio furniture), national in-home furniture assembly, fitness equipment assembly and installation, and office setup and downsizing services.

Customers and end markets

Clients are brand owners, consumer goods companies, manufacturers, distributors, and retailers. End markets are general retail and consumer goods distribution. The filing does not disclose specific customer names, customer concentration percentages, or client counts.

Value-chain role

SPAR Group sits at the retail execution layer of the consumer goods supply chain, between product manufacturers and the end consumer. The company provides the field labor and technology to ensure products are correctly placed, stocked, priced, and assembled at the point of sale.

Geographic exposure

As of December 31, 2025, SGRP operates in the United States and Canada. The company exited all other international operations in 2024. U.S. SG&A was $29.5 million and Canada SG&A was $2.7 million for the year ended December 31, 2025.

Source: SEC 10-K, filed 2026-03-31

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