Yankee Candle Boosts Third-Quarter Net by 41 Percent

       

       

SOUTH DEERFIELD, Mass.–Third-quarter net income for Yankee Candle rose 41 percent to $12.5 million, helped by a double-digit increase in sales.

Net sales for the quarter, which ended on Oct. 1, rose 11 percent to $195.1 million. The company reported gains of 36 percent, 9.2 percent and 6.6 percent from its international, wholesale and retail segments, respectively. Harlan Kent, Yankee Candle’s CEO, said the sales pickups reflected strong growth in its international, consumer-direct and retail businesses.

Yankee Candle’s bottom line was also bolstered by “other” income (from unspecified sources) of $2.4 million. Although selling, general and administrative expenses rose 8.3 percent in dollars, they fell 93 basis points as a percentage of sales to 37.5 percent. Gross margin took a 292 basis-point dip to 54.9 percent.