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Slow Going at Yankee Candle

Published November 30, -0001
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Yankee Candle is hoping that 2009 will add a spark to the home fragrance business. Revenue for the fourth quarter ended Jan. 3, 2009 was $264.3 million, a 7.2% decrease from the prior year fourth quarter. According to the company, the decrease in revenue was a result of the deteriorating economic environment, a decrease in sales in its home specialty channel within its domestic wholesale business (driven by the bankruptcy of Linens-N-Things), and to a lesser extent a decrease in retail comparable store sales of 9.4%.

Retail sales rose 0.8% to $190.7 million. Wholesale sales dropped 22.9% to $73.6 million.

As part of a restructuring that was previously announced, the company recorded a $12.4 million charge in the fourth quarter of 2008.

Total revenue for the 2008 fiscal year dropped 3.1% to $713.7 million. Retail sales rose 0.6% to $410.3 million. Wholesale sales figures slipped 7.8% to $303.5 million.

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