04.11.11
Blyth is feeling the effects of shoppers’ selective budgeting on home fragrance, as seen in its fiscal 2011 and fourth quarter reports. For the year ended Jan. 31, 2011, net sales declined 6% to $900.9 million. However, operating profit rose 6% to $46.6 million.
Net sales for the fourth quarter also declined 6% to $303.3 million.
Offering a company update, Robert B. Goergen, Blyth's chairman of the board and chief executive officer, commented, "We are pleased with the significant turn around in our Catalog & Internet and Wholesale channel profit performance, which began in early fiscal year 2011 and continued through the seasonally important fourth quarter.”
He continued, "At PartyLite, the strength of our value-oriented fall/holiday product line, which resonated with consumers, was more than offset by fewer active independent sales consultants in North America during the fourth quarter.We are completely focused on programs intended to attract and retain independent sales consultants.In Europe, we believe that modest fourth quarter sales declines in local currencies versus prior year resulted from significant snowstorms throughout the region."
Net sales for the fourth quarter also declined 6% to $303.3 million.
Offering a company update, Robert B. Goergen, Blyth's chairman of the board and chief executive officer, commented, "We are pleased with the significant turn around in our Catalog & Internet and Wholesale channel profit performance, which began in early fiscal year 2011 and continued through the seasonally important fourth quarter.”
He continued, "At PartyLite, the strength of our value-oriented fall/holiday product line, which resonated with consumers, was more than offset by fewer active independent sales consultants in North America during the fourth quarter.We are completely focused on programs intended to attract and retain independent sales consultants.In Europe, we believe that modest fourth quarter sales declines in local currencies versus prior year resulted from significant snowstorms throughout the region."