HUNTSVILLE, Ala., Sept. 03, 2025 (GLOBE NEWSWIRE) -- Lakeland Industries, Inc. (“Lakeland Fire + Safety” or “Lakeland”) (NASDAQ: LAKE), a leading global manufacturer of protective clothing and apparel for industry, healthcare and first responders, today announced that management will attend the Lake Street 9th annual Best Ideas Growth (BIG9) Conference and the D.A. Davidson 24th Annual Diversified Industrials & Services Conference in September 2025. Lakeland President, Chief Executive Officer and Executive ...

Core Viewpoint - Lakeland Industries has completed the sale of its Decatur, Alabama warehouse for $6.1 million, which is part of a broader strategy to streamline operations and enhance profitability while providing financial flexibility for future enhancements [1][2][4]. Financial Summary - The sale price of the Decatur facility was $6.1 million, excluding customary commissions and closing expenses [3]. - The company anticipates generating annual savings of approximately $1 million for the remainder of fiscal year 2026 from this sale and other planned closures [4]. - Additional initiatives are expected to yield an extra $3 million in annualized savings, with benefits anticipated in the second half of fiscal 2026 [4]. Operational Strategy - The sale is part of Lakeland's operational consolidation strategy aimed at enhancing efficiency and reducing costs [4]. - The company is searching for a new, upgraded warehouse, logistics, and lab facility in a more strategic location to replace the Decatur facility [2]. - The short-term leaseback arrangement allows the company to maintain operational continuity while exploring alternative sites [3]. Future Outlook - The company is focused on growing top-line revenue through the implementation of operating and manufacturing efficiencies, including the consolidation of warehousing and logistics [5]. - These efforts are expected to enable higher margins and create a more agile and cost-effective organization in the long term [5].

Core Viewpoint - Lakeland Industries is implementing a cost reduction strategy that includes the closure of two facilities, aiming for a total annual savings of $4 million to enhance operational efficiency and profitability [1][2]. Group 1: Cost Reduction Initiatives - The planned closures of the Hull warehouse and Quitman manufacturing facility are expected to generate annual savings of approximately $1 million for the remainder of fiscal year 2026 [2]. - Additional initiatives have been identified that are projected to yield an extra $3 million in annualized savings, with benefits anticipated in the second half of fiscal 2026 [2]. Group 2: Strategic Focus - The company is focused on operational efficiency, regional consolidation, and long-term growth, as stated by the CEO [3]. - Lakeland is committed to supporting affected employees and maintaining service continuity for its global customer base [3]. Group 3: Future Plans - Over the next 12 to 24 months, Lakeland will continue to consolidate warehousing, logistics, and manufacturing operations globally to create a more agile and cost-effective organization [4]. - The company is rolling out a global ERP system and implementing Lean Six Sigma initiatives to improve planning accuracy, forecasting capabilities, and operational intelligence [4].

Company Overview - Lakeland Industries, Inc. is a leading global manufacturer of protective clothing and apparel for industry, healthcare, and first responders [1] - The company has a comprehensive line of fire services and industrial protective clothing and accessories, sold globally through various distribution channels [6][7] Recent Developments - Lakeland has been added to the Russell 3000 Index and Russell 2000 Index effective after the U.S. market close on June 27, 2025, as part of FTSE Russell's annual reconstitution [1][2] - The company reported a sales revenue growth of 29%, driven by a 100% increase in Fire Services revenue [2] Strategic Initiatives - Lakeland has completed four acquisitions in the past twelve months and is actively pursuing further M&A opportunities, particularly in the fire suit rental, decontamination, and services sectors [2] - The company aims to consolidate the fragmented fire market and expand its global product offerings and customer base [2] Market Context - The Russell indexes are widely utilized by investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against them as of June 2024 [3] - FTSE Russell, the global index provider, calculates thousands of indexes covering 98% of the investable market globally, with about $18.1 trillion benchmarked to its indexes [4]

Core Points - Lakeland Industries, Inc. declared a cash dividend of $0.03 per share for its fiscal second quarter of 2026, payable on May 22, 2025, to stockholders of record as of May 15, 2025 [1] Company Overview - Lakeland Fire + Safety manufactures and sells a comprehensive line of protective clothing and accessories for industrial and first responder markets, with a global sales network [2] - The company supplies products to various end users, including sectors such as oil, chemical, automotive, construction, and government agencies [2] - Lakeland operates internationally, selling to over 50 countries, with significant sales in China, the EEC, Canada, and several Latin American and Asian countries [2]