03.17.15
Direct-to-consumer household company Blyth, Inc. posted slow sales and earnings for the fourth quarter and full year of 2014. In addition, the company announced the completion of a new $35 million five-year term loan and an up-to $15 million asset-based credit facility. Proceeds from the term loan, along with cash-on-hand, were used to retire the company's $50 million in Senior Notes due March 2015.
Net sales for the year ended Dec. 31, 2014 decreased 8% to $490.0 million.
Net sales for the three months fell 11% to $176.8 million. Sales for the quarter were negatively impacted by the strengthening US dollar, particularly against the euro, by approximately 5%. In the Candles & Home Decor segment, PartyLite sales slipped 14% to $133.3 million in the fourth quarter.
In 2015, the company plans to consolidate its worldwide manufacturing facilities into one global center in Batavia, Illinois. Blyth will be closing its facility in Cumbria, UK, as previously reported in Happi.
Net sales for the year ended Dec. 31, 2014 decreased 8% to $490.0 million.
Net sales for the three months fell 11% to $176.8 million. Sales for the quarter were negatively impacted by the strengthening US dollar, particularly against the euro, by approximately 5%. In the Candles & Home Decor segment, PartyLite sales slipped 14% to $133.3 million in the fourth quarter.
In 2015, the company plans to consolidate its worldwide manufacturing facilities into one global center in Batavia, Illinois. Blyth will be closing its facility in Cumbria, UK, as previously reported in Happi.