Benzinga | Sep 10, 2021 07:36PM EDT

Why Lakeland Industries Shares Fell Today

Lakeland Industries (NASDAQ:LAKE) shares are trading lower after the company reported worse-than-expected Q2 sales.

Sales of $27.50 million came in below the consensus estimate of $33.28 million. The company said sales were 'negatively affected by larger than anticipated freight issues that culminated in excess inventory within distribution channels in our largest global market.'

Lakeland Industries Inc manufactures and sells safety garments and accessories for the industrial protective clothing market. It offers limited use and disposable protective clothing, chemical protective suits, and firefighting and heat protective apparel.

At the time of publication, shares were trading 14.6% lower at $20.41.