Sales Burn Brightly for Yankee Candle
Wholesale sales were $53.2 million, a 20 percent increase over the year-ago quarter. Retail sales totaled $45.8 million, a 13 percent rise over the fiscal 2001 third quarter. Comparable sales in the 168 retail stores that have been open more than a year and the mail-order hub fell 8 percent, and retail comparable-store sales dropped 9 percent in the quarter.
Net income in the quarter rose 34 percent to $11.3 million from $8.5 million. Operating profit increased 21 percent to $19.7 million from $16.3 million.
For the first nine months of 2002, sales totaled $268.5 million, up 21 percent from the first nine months of 2001. Wholesale sales, including European operations, totaled $139.5 million, a 23 percent rise over the first nine months of 2001. Retail sales reached $129.1 million, an 18 percent increase. Comparable sales in the 168 stores that have been open more than a year and the mail-order hub fell 3 percent for the first nine months of 2002. Retail comparable-store sales dropped 6 percent.