Greenwich, CT
www.blyth.com

Sales: $347 million candles and home décor products. Corporate sales: $490 million.

Blyth’s PartyLite business sells premium candles, flameless and other home fragrance products and related decorative accessories in the United States, Canada, Mexico, Australia and Europe. This unit, which recorded net sales of $347.6 million in 2014, accounts for the majority of Blyth’s total performance.

For the year, Blyth said that the declining sales for Partylite stemmed from a decrease at PartyLite North America of 20% and a decrease at PartyLite Europe of 8%, or 6% in local currency. These declines were principally due to a reduction in consultants, which resulted in a lower number of shows. Net sales at PartyLite Australia were down 2% compared to last year in US dollars, however sales increased 4% in local currency, the firm said.

There were approximately 14,800 active independent North American sales consultants selling PartyLite at the close of 2014 compared to approximately 16,800 the year before. There was a similar slide in Europe where active independent sales consultants fell from 30,200 at the end of 2013 to about 27,600 by the close of 2014.

Q1 2015 was also tough for the company. Net sales decreased approximately 12% to $103.7 million.

Greenwich, CT
203.661.1926
www.blyth.com
Sales: $888 million.
Net income: $16 million.

Last year, Blyth changed its annual reporting period from January 31 to Dec. 31, so these results reflect an 11-monthperiod. Net sales increased approximately 20%, due to increases within the direct selling (78% of sales) and wholesale segments.

Direct sales rose 26% to $690 million due to greater demand for ViSalus and a jump from 8000 promoters to 59,000. PartyLite’s net sales fell nearly 10% to $462 million due to a 22% drop in the US business. The decline was blamed on an 11% decline in the number of PartyLite’s active US representatives. PartyLite’s European sales fell 4% due to lower sales in Germany, France and the UK. The number of European sales consultants, fell 4%. PartyLite Europe represented approximately 61% of PartyLite’s worldwide net sales.

Net sales in the catalog and internet segment (15% of sales) fell 1% to about $137 million, while net sales in the wholesale segment (7% of sales), increased 14% to nearly $61 million. That gain was attributed to Sterno price increases.

For the first quarter ended March 31, 2012, sales soared more than 50% to $283 million and the company reported net income of $11 million, compared to a loss of $833,000 the previous year. The direct sales unit reported an 82% increase in sales to $236 million. Sales within the catalog and internet unit fell 9% to nearly $34 million.

In May, Blyth announced a two-for-one stock split, which increased its total shares outstanding to 17.2 million. Blyth shares rose from the mid-30s in 2011 to a high of $90 before dropping to $70 a share at press time.

Greenwich, CT

203.661.1926

www.blyth.com

Sales: $900 million

Sales:

$900 million. Net income: $25 million for the year ended Jan. 31, 2011.

Corporate sales continue to slide at Blyth. Last year, sales dropped 6% and have fallen more than $300 million since 2007. The decrease in the most recently concluded fiscal year is a result of lower sales in PartyLite’s North American business as well as the impact of weaker European currencies versus the US dollar. This decrease was partially offset by an increase in sales in Blyth’s wholesale segment. International sales represented 45% of total sales. Taking a closer look at the results, PartyLite’s sales fell 25%, which Blyth blamed on continued weakness in consumer discretionary spending and a decline in active independent sales consultants.

Blyth’s decline mirrors the declining popularity of candles, which peaked in the middle of the past decade, but have been declining for several years. According to Kline, candles’ share of the $3.3 billion home fragrance market has declined from 50% in 2000 to about 43% in 2010. Last year, Blyth was the No. 5 player in the candle category, trailing such well known candle makers as Yankee Candle and SC Johnson.

For the first quarter ended April 30, 2011, sales rose ever so slightly from $185.3 million to $185.5 million.

“We had a difficult first quarter driven by lower PartyLite sales versus last year as our core consumer was negatively impacted by rising gasoline and food prices,” said Robert B. Goergen, chairman and CEO. “These increased expenses have a direct impact on consumer discretionary spending and make it increasingly challenging for PartyLite consultants and leaders to book and hold shows.

“Moreover, higher commodity prices, increasing Asian-sourced product costs and higher ocean freight expense versus last year have also impacted Blyth’s costs which resulted in disappointing first quarter profits,” he added.

Blyth posted a first quarter loss of $5 million, compared to a loss of $2 million the previous year.

In May, Blyth completed the sale of Midwest-CBK, its premium wholesale seasonal decorations and home decor business, to MVP Group International, a manufacturer of private label candles and home fragrance products.

Greenwich, CT
203.661.1926
www.blyth.com
Sales: $958 million

Sales:
$958 million. Net income: $16.4 million for the year ended Jan. 31, 2010

In this economy, candle makers are getting burned—Blyth’s sales fell 9% last year to $958 million.

By segment, direct selling, which represents 63% of the company’s results, fell 4% to $635.2 million. PartyLite’s U.S. sales decreased approximately 14% compared to the prior year, due to recession, a decline in PartyLite shows and a decrease in shows per consultant. Still the number of PartyLite’s active independent U.S. sales consultants was even with the previous year. Sales of PartyLite Canada fell 17%. PartyLite’s European sales increased 3%, driven by strong sales in Germany, France and Austria.

Net sales in the catalog and internet segment (18% of sales) fell 13% to $166 million. Sales decreased across all catalogs due to lower consumer discretionary spending, as well as a planned reduction in catalog circulation in an effort to reduce selling costs through more targeted catalog delivery.

Net sales in the wholesale segment (16% of sales) decreased 20% to $156.8 million. The company blamed the decline on the weak housing market and overall economy.

Is the Party Over?
For the first quarter ended April 30, 2010, sales fell 6% to $201.5 million.

“We continued to experience downward sales pressure in our U.S. business units during the first quarter, driven by a sales decline in PartyLite U.S. as party cancellations continued to trend above historical rates and active independent sales consultants declined from prior year levels,” explained Robert B. Goergen, Blyth’s chairman and chief executive officer. “Management has moved aggressively to incorporate more value-priced products into the portfolio which, when combined with PartyLite’s platinum quality candles, home fragrance products and an innovative new product line, offer a compelling reason for consumers to host or attend a party.”

Greenwich, CT
203.661.1926
www.blyth.com
Sales: $1.1 billion

Sales: $1.1 billion. Net loss: $15.5 million for the 12 months ended Jan. 31, 2009.

Sales fell about 10% last year. Direct sales fell 3% to account for $664 million. PartyLite’s U.S. sales fell 23% due to a decline in sales consultants (27,000 to 21,000) and fewer shows.

Due to a weak housing market, sales within the wholesale segment tumbled 28% to just over $196 million. Finally, sales in the catalog and internet segment fell 8% to $190 million, due to lower discretionary spending.

The gloomy picture continued into the first quarter, as sales fell 7% to $214.7 million.

“Consumer spending during the first quarter was weak and was overwhelmingly value-driven as evidenced by sales trends in each of our North American businesses,” noted Robert B. Goergen, chairman and chief executive officer. “In Europe, however, our sales increased 7% in local currency as consumer spending continued to hold up better.”

Greenwich, CT
203.661.1926
www.blythinc.com
Sales: $1.1 billion

Sales:

$1.1 billion. Net income: $11.1 million.

The spark is still slight at this candle and home fragrance company. Net sales for the fiscal year ended Jan. 31, 2008 declined 5% to $1.1 billion. According to Blyth, excluding the sale of the BHI North American mass channel candle business, net sales for the year would have been approximately even with the prior year.

However, operating income for the fiscal year was up 10% to $30.9 million. Net income for the year was $11.1 million, compared to a loss of $103.2 million last year caused by a $105.7 million after tax loss from discontinued operations of Blyth’s European wholesale businesses.

For the first quarter ended April 30, 2008, financials in general were still bleak as net sales declined 8% to $249.8 million. Operating profit dropped 7% to $10 million, reflecting lower sales and profits within PartyLite U.S. and higher seasonal losses from most of Blyth’s wholesale and catalog/internet businesses.

Commenting on the company’s financial results, Robert B. Goergen, Blyth’s chairman and chief executive officer, said, “The continued deterioration of the macroeconomic environment and its impact on consumer spending had an immediate and decisive impact on sales across Blyth’s U.S. businesses. Moreover, cost increases for commodities such as wax and increased paper, postage and freight expenses made achieving our first quarter profit targets very challenging.”

However, there could be a light at the end of the tunnel. Mr. Goergen continued, “Despite these obstacles, we are very pleased that PartyLite Europe continues to grow, with the French and Nordic markets being particular bright spots. Moreover, our Sterno business turnaround is well under way, and they are on track to report a strong year.”