Blyth Inc., a marketer of home décor and fragrance products, has reported a 5% increase in second-quarter sales to $289.1 million. Net earnings totaled $9.4 million, compared with $11.2 million during the same period last year.
The sales increase was mostly due to the addition of Kaemingk in the second quarter last year, and of Walter Drake in December 2003. The second quarter for the firm’s fiscal 2005 ended on July 31.
Blyth’s catalog/Internet segment, which now includes the Walter Drake and Miles Kimball catalogs, generated $35.4 million in sales. But it posted a $1.8 million operating loss, reflecting the seasonality of its business and costs resulting from the integration of Walter Drake’s operation with those of Miles Kimball.
Blyth posted catalog/Internet sales of $6.6 million in fiscal 2004, compared with zero the year before.
“The catalog and Internet segment is our newest distribution channel, and we are pleased that the business remains on track to carry out its financial plan for the full year,” said CEO Robert B. Georgen in a statement.
Sales for the direct selling segment increased roughly 5% to $150.3 million, largely on the strength of European sales of PartyLite products.
The Greenwich, CT-based company reported sales of $658 million for the first six months, a 10% increase over the prior year. Net earnings fell to $21.7 million from $30.9 million.
