Yankee Candle Sales Brighten 11% in Q4
Yankee Candle, South Deerfield, MA, is a designer, manufacturer, wholesaler and retailer of premium scented candles. Its 2001 fiscal year and fourth quarter ended Dec. 29.
Wholesale sales for the quarter, including European operations, totaled $55.2 million, up 3 percent from the fiscal 2000 fourth quarter. Retail sales reached $102.2 million, a 16 percent rise. Comparable sales in the 147 retail stores that have been open more than one year and the mail-order hub fell 3 percent while retail comparable-store sales dropped 5 percent during the fourth quarter.
Net income increased 21 percent in the fourth quarter to $33.6 million from $27.7 million. Operating profit rose 14 percent in the quarter to $57.4 million, from $50.4 million.
Total sales for fiscal 2001 were $379.8 million, up 12 percent from fiscal 2000. Wholesale sales, including European operations, reached $168.1 million, a 3 percent increase from fiscal 2000. Retail sales totaled $211.7 million, up 21 percent.
Comparable-store sales in the 147 stores open more than one year and the mail-order hub increased 2 percent in fiscal 2001. Retail comparable-store sales fell 2 percent.
Operating profit before restructuring charges for fiscal 2001 was $89.9 million, compared with $89.1 million for fiscal 2000. Operating profit after restructuring charges for fiscal 2001 was $81.9 million, compared with $89.1 million for fiscal 2000.