tiprankstipranks
Trending News
More News >

Lifetime Brands Announces New Distribution Center Move

Story Highlights
Lifetime Brands Announces New Distribution Center Move

Confident Investing Starts Here:

An update from Lifetime Brands ( (LCUT) ) is now available.

On January 23, 2025, Lifetime Brands, Inc. entered into a lease agreement for a new 1.027 million-square-foot distribution center in Hagerstown, Maryland, to serve as its primary east coast distribution hub, replacing the Robbinsville, New Jersey facility. This strategic relocation aims to support Lifetime’s long-term growth by optimizing infrastructure and operational efficiencies, aided by tax abatements and incentives totaling approximately $13 million from Maryland and Washington County, and integrating a new warehouse management system. The move, expected to be completed by the second quarter of 2026, includes incurring one-time costs up to $7 million and capital expenditures of around $10 million, with anticipated operational readiness by 2026.

More about Lifetime Brands

Lifetime Brands, Inc. is a leading global designer, developer, and marketer of a wide range of branded consumer products used in the home. The company markets products under well-known kitchenware, tableware, giftware, and home solutions brands, and provides exclusive private label products to leading retailers worldwide.

YTD Price Performance: 9.03%

Average Trading Volume: 53,936

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $136.5M

See more insights into LCUT stock on TipRanks’ Stock Analysis page.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App