Net sales for the year ended Jan. 31, 2009 slipped 10% to $1.05 billion.
Commenting on the company's financial results, Robert B. Goergen, Blyth's chairman of the board and chief executive officer, said, “The effect of unprecedented events in the U.S. economy, including the credit crisis, the deterioration of consumer discretionary spending and increased unemployment had a material impact on Blyth's sales and profits. Consumers across each of our distribution channels became increasingly reluctant to spend during the course of the fourth quarter.
Mr. Goergen continued, “Conversely, consumer spending held up well for PartyLite Europe during the fourth quarter, with continued growth in our French and Nordic markets. Moreover, consultant productivity across most of Europe remained strong.”