05.12.11
Yankee Candle’s financial results for the first quarter ended April 2, 2011 are on the upswing.Sales for the first quarter of 2011 rose 2.2% to $144.1 million.Wholesale business jumped 3.1% to $69.3 million, while retail sales increased 1.5% to $74.8 million.
"As we indicated in our comments at the beginning of the year, the pacing of our plans for 2011 contemplated year over year unfavorability in the seasonally lower volume first half of the year due in large part to specific factors that we identified, including wax and freight inflation and investments we are making in various growth initiatives that will begin to benefit us in the second half of the year," said Harlan Kent, the company's chief executive officer."Our results in the first quarter were consistent with these expectations."
"As we look ahead, we believe that continued macro-economic challenges are possible at least in the short term, particularly given the significant increases in gas prices and the potential impact on consumer confidence and spending patterns," said Kent."With respect to our own business, given the ongoing year over year increases in wax pricing and freight costs and the fact that we remain committed to investing in the growth initiatives outlined previously, our plan continues to contemplate year over year unfavorability for the remainder of the first half of 2011.This is particularly the case given the fact that, due to seasonality, our fiscal second quarter is typically our smallest earnings quarter.That said, we have taken several proactive steps, including pricing measures, to help mitigate the impacts of the wax and freight increases and continue to believe that the investments we are making now will position us well for year over year growth in our higher volume and more impactful third and fourth quarters."
"As we indicated in our comments at the beginning of the year, the pacing of our plans for 2011 contemplated year over year unfavorability in the seasonally lower volume first half of the year due in large part to specific factors that we identified, including wax and freight inflation and investments we are making in various growth initiatives that will begin to benefit us in the second half of the year," said Harlan Kent, the company's chief executive officer."Our results in the first quarter were consistent with these expectations."
"As we look ahead, we believe that continued macro-economic challenges are possible at least in the short term, particularly given the significant increases in gas prices and the potential impact on consumer confidence and spending patterns," said Kent."With respect to our own business, given the ongoing year over year increases in wax pricing and freight costs and the fact that we remain committed to investing in the growth initiatives outlined previously, our plan continues to contemplate year over year unfavorability for the remainder of the first half of 2011.This is particularly the case given the fact that, due to seasonality, our fiscal second quarter is typically our smallest earnings quarter.That said, we have taken several proactive steps, including pricing measures, to help mitigate the impacts of the wax and freight increases and continue to believe that the investments we are making now will position us well for year over year growth in our higher volume and more impactful third and fourth quarters."