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Yankee Candle Reports 1Q Results

by Staff -- Gifts and Dec, 5/14/2009 9:45:00 AM

South Deerfield, MA — Yankee Holding Corp., the parent company of The Yankee Candle Company reports that the total revenue for the first quarter, ended April 4, 2009, was $125.7 million, a 10.8 percent decrease from the prior year first quarter.

First quarter revenue for 2009 includes sales of $5.8 million, compared to $4.6 million in the prior year related to the company's Illuminations business, which earlier this year it announced that it is discontinuing. Excluding Illuminations sales, first quarter revenue decreased by $16.4 million or 12 percent.

Sales in the company's wholesale business decreased by 18.7 percent versus the prior year period, driven primarily by thebankruptcy of Linens 'n Things ("LNT"), a major customer, and the continued caution of other retailers in regard to their open-to-buy inventory dollars.

The Company incurred a net loss of $11.5 million for the first quarter of 2009 compared to a net loss of $7.9 million in the first quarter of 2008.

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