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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.