Sales: $681 million
$681 million. Net income: $16.4 million for the year ended Jan. 2, 2010
Harlan Kent, president and chief executive officer; Craig W. Rydin, executive chairman; Gregory W. Hunt, executive vice president, finance and chief financial officer; Stephen Farley, president, retail division; Arthur F. Rubeck, senior vice president, supply chain; Martha S. LaCroix, executive vice president, chief human resources officer; James A. Perley, president international division, executive vice president general counsel; Michael Thorne, president, wholesale division; Edward R. Medina, senior vice president, finance
Candles and related home fragrance products marketed under such brand names as Housewarmers, Simply Home Classics, Good Air, Conceal and Yankee
New seasonal fragrances, On-The-Go Travel Spray, Lip Balm, Anti-Bacterial Hand Sanitizer, Good Air. To be launched: new fragrances for Fall and Holiday 2010
Yankee Candle is the largest specialty branded premium scented candle company in the U.S. In 2009, Yankee Candle’s bestselling new fragrance introductions included Garden Sweet Pea, Lavender Vanilla and MacIntosh Spice. Rick Ruffolo, senior vice president of brand, marketing and innovation (who has since moved on to Crabtree & Evelyn), once attributed Yankee’s success in the category to “seasonal relevance.”
It was a mixed bag for Yankee during the past year. Retail sales increased 2.7% to $401.3 million; however, wholesale sales fell 6.3% to $279.8 million, due primarily by the loss of Linens ‘N Things which filed for bankruptcy in 2008, and of course, the weak economic environment. However, the decrease was partially offset by an increase in sales in European operations and the full rollout of the company’s new Home Classics brand at Target stores nationwide.
Net income was $16.4 million for the year—a huge improvement over the $409.3 million net loss reported last year.
This spring, the company tapped Gregory W. Hunt as executive vice president, finance and chief financial officer. Most recently, Hunt served as executive vice president of strategic and commercial development for Norwegian Cruise Lines. He also worked at Culligan Water Technologies, Inc. and Samsonite Corporation.
In March, Yankee Candle opened its 500th retail store located at the Square One Mall in Saugus, MA. This milestone was celebrated in the company’s backyard with an official grand opening and ribbon cutting.
“Yankee Candle has been based in Massachusetts since we got our start more than four decades ago, and we feel it is very fitting that this exciting event is taking place here in our home state,” said Harlan Kent, Yankee Candle’s chief executive officer.
Yankee Candle employs more than 5,000 people nationwide with more than 1,500 employees in Massachusetts alone. The 500th store location in Saugus is the 34th Yankee Candle store in Massachusetts.
This year, Yankee Candle also moved into the toy marketplace. It teamed up with Hasbro to create Yankee Candle Scented Puzzles, which have the “subtle pleasant scents” of classic Yankee Candle fragrances such as Macintosh Apple, Clean Cotton and Midsummer’s Night, according to the company. The puzzles include unique pieces in the well-known shape of the classic Yankee Candle jar.