05.01.15
Direct-to-consumer household company Blyth, Inc. posted lower sales for the fourth quarter and full year of 2014. Net sales for the year ended Dec. 31, 2014 decreased 8% to $490.0 million.
For the three months ended Dec. 31, 2014, net sales decreased approximately 11% to $176.8 million. Sales for the quarter were negatively impacted by the strengthening US dollar, particularly against the euro, by approximately 5%. In the candles and home decor segment, PartyLite sales fell 14% to $133.3 million in the fourth quarter.
In addition to the sales results, the company announced the completion of a new $35 million five-year term loan and an up to $15 million asset-based credit facility. Proceeds from the term loan, along with cash-on-hand, were used to retire the company’s $50 million in Senior Notes that were due in March.
In 2015, the company plans to consolidate its worldwide manufacturing facilities into one global center in Batavia, IL. Blyth will be closing its facility in Cumbria, UK, as previously reported in Happi.
For the three months ended Dec. 31, 2014, net sales decreased approximately 11% to $176.8 million. Sales for the quarter were negatively impacted by the strengthening US dollar, particularly against the euro, by approximately 5%. In the candles and home decor segment, PartyLite sales fell 14% to $133.3 million in the fourth quarter.
In addition to the sales results, the company announced the completion of a new $35 million five-year term loan and an up to $15 million asset-based credit facility. Proceeds from the term loan, along with cash-on-hand, were used to retire the company’s $50 million in Senior Notes that were due in March.
In 2015, the company plans to consolidate its worldwide manufacturing facilities into one global center in Batavia, IL. Blyth will be closing its facility in Cumbria, UK, as previously reported in Happi.