YANKEE CANDLE STICKS WITH GROWTH PLAN.(Yankee Candle Company Inc.)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, March, 2005
SOUTH DEERFIELD, Mass.- Despite a disappointing fourth quarter, Yankee Candle is still shooting for 8 to 10 percent growth in the first quarter in its wholesale business channel, according to a presentation made before Goldman Sachs earlier this month.
Total sales for the fourth quarter increased 7 percent and wholesale sales increased 6 percent, but the company missed its sales and profit goals mainly due to below-plan wholesale sales.
According to Goldman Sachs, Yankee Candle does not plan to alter its strategy. It plans to drive growth through its multichannel distribution, continued innovation in candles and other products, and by increasing market share above the current 41 percent in premium scented candles.
Goldman Sachs is...
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