South Deerfield, MA
Sales: $737 million
Sales:$737 million. Net income: $3 million.
Key Personnel:Craig W. Rydin, chairman and chief executive officer; Harlan M. Kent, president and chief operating 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; Richard R. Ruffolo, senior vice president, marketing and innovation; Michael Thorne, senior vice president, wholesale.
Major Products:Candles and related products marketed under such brand names as Housewarmer, Home Classics, YC, Stripes and Country Kitchen.
New Products:Aromatherapy Spa candles, Conceal outdoor mosquito candles.
Comments:Retail sales rose 4.9% to nearly $408 million and wholesale sales rose 10.2% to $329.3 million. Net income tumbled from $84 million due to costs associated with the acquisition by Madison Dearborn Partners, LLC.
“Given the challenging macroeconomic environment that we competed in during the fourth quarter, we were pleased with our 2007 performance,” said Craig W. Rydin, chairman and chief executive.
To maintain growth, the company is focused on its brand, the competitive advantage of its multi-channel business model and its vertically integrated supply chain.
“Additionally, we are highly focused on cost containment and controllable expenses as we navigate a difficult sales environment. We continue to believe that we are well-positioned to compete successfully for the consumer’s share of wallet during the course of 2008.”
For the first quarter of 2008, sales declined 1.5% to $140.9 million. The decline was blamed on existing domestic wholesale customers who remain skittish when it comes to inventory.