07.05.07
21. Yankee Candle
South Deerfield, MA
413.665.8306
www.yankeecandle.com
Sales: $687 million
Sales:
$687 million. Net income: $84 million.Key Personnel:
Craig W. Rydin, chairman and chief executive officer; Harlan M. Kent, president and chief operating officer; Bruce H. Besanko, senior vice president, finance and chief financial officer; Stephen Farley, senior vice president, retail; Paul J. Hill, senior vice president, supply chain; Martha S. LaCroix, senior vice president, human resources; James A. Perley, senior vice president, general counsel; Michael Thorne, senior vice president, wholesale.
Chief Marketing Officer:
Richard R. Ruffolo, senior vice president, marketing and innovation.
Major Products:
Candles and related products marketed under such brand names as Housewarmer, Home Classics, YC, Stripes and Country Kitchen.
New Products:
Farmer’s Market, Illuminations (acquisition).
Comments:
In January, Yankee was acquired by Madison Dearborn Partners, LLC. At the time of the move, Craig Rydin, chairman and chief executive officer of Yankee, said, “We look forward to partnering with Madison Dearborn to continue to deliver profitable growth. We intend to continue to focus our strategy on unlocking the potential within our core premium scented candle competency using our multi-channel distribution model. As we begin 2007, it will be business as usual for our customers, consumers and associates.”Sales rose 14% last year. Net income increased 12%. Retail sales increased nearly 22% to $370.4 million. Wholesale sales rose 6.7% to $317.1 million. Gross profit increased 13.5% to $390.2 million for fiscal 2006 versus the prior year. As a percentage of sales, gross profit decreased to 56.8% compared to 57.2% for the prior year, attributable largely to increased promotional support and increased supply chain costs attributable largely to higher wax, freight and energy-related costs.
For the first quarter of 2007, sales rose 7% to $143 million. The gain was driven by new stores sales, including sales attributable to the Illuminations business acquired in July 2006, as well as sales from new wholesale locations. Comparable sales in the company’s retail segment, including its consumer direct business, increased by 1% over the prior year period.