Yankee Candle Co. announced its fourth quarter earnings dropped by 10% due to higher energy costs that drove up expenses for raw material and shipping. The scented candle maker and retailer reported quarterly earnings of $43.4 million, down from $48 million.
Yankee Candle closed 17 of its stores during the quarter, which led to a $5.5 million restructuring charge. Excluding that charge, fourth-quarter adjusted profit was $46.8 million. Revenue rose to $236.9 million, an 8% increase. For the full year, Yankee Candle’s profits fell 6% to just over $78 million.