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Latest Issue: May/June 18

Lakeland posts disappointing year

Multichannel kitchenware retailer Lakeland saw its sales fall to £167 million from £179 million for the year to 31 December 2016. Profits were also under pressure, falling from £3.3 million for 2015 to £1.2 million. During the year Lakeland had invested in the Australian market which it entered via a partnership with The Good Guys and like many other niche UK retailers had faced challenges from discounters as consumers sought to reduce their spending.