Most Popular in:
Yankee Candle Reports Q3
Posted: November 14, 2008Yankee Holding Corp. and The Yankee Candle Company, Inc. announced total revenue of $181.1 million for the third quarter ended Sept. 27, 2008, a 3% increase from the prior year quarter. The increase in revenue, according to the company, was primarily due to increased sales in the company's domestic and European wholesale businesses and in new retail stores, offset in part by decreased comparable store sales in its retail business.
“We are pleased by our performance in the third quarter, particularly given the challenging macroeconomic headwinds we faced during the quarter," said Craig Rydin, chairman and CEO, Yankee Candle. "The $44.4 million of adjusted EBITDA we delivered was a 6.4% increase over the prior year quarter. The growth was driven by a continued focus on our differentiated multi-channel business model, the strength of our brand, the impact of our cost-containment efforts and the dedication of our talented employees.
“We are now in the midst of the very important holiday selling season. We understand that we are competing in an unprecedented consumer-challenged environment. The consumer is fragile and she is concerned about her near-term financial security. This consumer mindset is likely to result in a challenging holiday season for consumer-facing companies, including Yankee Candle.”