雷克兰工业 2024年度报告

FORM10-K (Mark one)☒ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year endedJanuary 31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _____________ to ______________ Commission File Number:0-15535 LAKELAND INDUSTRIES, INC. Delaware(State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 35806(Zip Code) (Registrant's telephone number, including area code) (256)350-3873 Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:Not Applicable Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports)and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a nonaccelerated filer, a smaller reportingcompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reportingcompany”, and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☒Nonaccelerated filer☐Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes☐No☒ The aggregate market value of voting stock held by non-affiliates as of July 31, 2024 was approximately $172.8million.As of April10, 2025, there were outstanding9,498,604shares of common stock, $0.01 par value. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement to be filed pursuant to Regulation 14A of the Securities Exchange Act of 1934are incorporated by reference into Part III (Items 10, 11, 12, 13 and 14) of this Form 10-K. LAKELAND INDUSTRIES, INC.INDEX TO ANNUAL REPORT ON FORM 10-K PART IItem 1Business4Item 1A.Risk Factors11Item 1B.Unresolved Staff Comments22Item 1C.Cybersecurity22Item 2.Properties24Item 3.Legal Proceedings24Item 4.Mine Safety Disclosures24PART II:Item 5.Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities25Item 6.[Reserved]25Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations26Item 7A.Quantitative and Qualitative Disclosures about Market Risk36Item 8.Financial Statements and Supplementary Data37Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure38Item 9A.Controls and Procedures38Item 9B.Other Information40Item 9C.Disclosure Regarding Foreign Jurisdictions That Prevent Inspections40PART III:Item 10.Directors, Executive Officers and Corporate Governance41Item 11.Executive Compensation41Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters41Item 13.Certain Relationships and Related Transactions, and Director Independence41Item 14.Principal Accountant Fees and Services41PART IV:Item 15.Exhibit and Financial Statem