08.07.15
At Blyth, Inc., net sales for the three months ended June 30, 2015 decreased approximately 16% to $88.0 million. Sales for the quarter continued to be negatively impacted by the strengthening US dollar, particularly against the euro, by approximately 8%, or $7.8 million.
Commenting on the second quarter results, Robert B. Goergen, Jr., chief executive officer, noted, "Our Catalog & Internet segment sales gained over the prior year period, driven largely by the acquisition of Native Remedies earlier this year. Our Candles & Home Decor segment sales continued to be negatively affected by the increasing strength of the US dollar versus the euro, as well as the underperformance in our core European countries during the quarter. Our development of a multi-channel strategy, which includes an intensified emphasis on new sponsorship, leadership development and growth in parties held, while Consultants grow their businesses through a complementary eCommerce platform, should help to reignite the Company's sales."
Goergen also noted, "PartyLite has done an excellent job at managing costs. We have initiated ambitious restructuring and gross margin improvement programs along with more efficient promotional programs. The migration of all candle production to our Batavia, Illinois facility is progressing smoothly and should result in savings to the bottom line beginning as early as this year."
For more on the rising home fragrance marketplace, check out the September 2015 edition of Happi!
Commenting on the second quarter results, Robert B. Goergen, Jr., chief executive officer, noted, "Our Catalog & Internet segment sales gained over the prior year period, driven largely by the acquisition of Native Remedies earlier this year. Our Candles & Home Decor segment sales continued to be negatively affected by the increasing strength of the US dollar versus the euro, as well as the underperformance in our core European countries during the quarter. Our development of a multi-channel strategy, which includes an intensified emphasis on new sponsorship, leadership development and growth in parties held, while Consultants grow their businesses through a complementary eCommerce platform, should help to reignite the Company's sales."
Goergen also noted, "PartyLite has done an excellent job at managing costs. We have initiated ambitious restructuring and gross margin improvement programs along with more efficient promotional programs. The migration of all candle production to our Batavia, Illinois facility is progressing smoothly and should result in savings to the bottom line beginning as early as this year."
For more on the rising home fragrance marketplace, check out the September 2015 edition of Happi!