Shares of Lakeland Industries (NASDAQ: LAKE) dropped as much as 14.1% in trading on Thursday after the company reported fiscal first-quarter 2022 results. The stock closed the day down 12.6%.
Net sales for the quarter were $34.1 million, down sharply from $45.6 million a year ago and $36.9 million in the fourth quarter of fiscal 2021. Management said that demand for personal protective equipment (PPE) was down as the worst of the pandemic subsided and customers experienced higher inventory levels.
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Why Lakeland Industries Stock Dropped 14.1% on Thursday