Yankee Candle Burns Brightly in 2002

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Strong wholesale results fueled record fourth-quarter and fiscal 2002 results at Yankee Candle Co. Inc., South Deerfield, MA.

Q4 wholesale sales rose 19 percent from last year to $65.5 million, the company said yesterday, and total Q4 sales climbed 12 percent to $176.3 million. Retail sales were $110.9 million, up 8.5 percent from the fiscal 2001 fourth quarter. Q4 net income rose 17 percent to $39.2 million, and operating profit jumped 15 percent to $65.7 million.

Total sales for fiscal 2002 were $444.8 million, a 17 percent increase from fiscal 2001. Wholesale was again the strongest performer, with sales rising 22 percent to $204.9 million. Retail sales were $239.9 million, up 13 percent from fiscal 2001. Net income for 2002 was $64 million, up from $43.3 million in fiscal 2001. Operating profit rose 34 percent to $109.8 million.

Yankee Candle's wholesale network consists of 14,000 store locations. The company does not break out sales for its Internet and catalog operations.


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