The Yankee Candle Company, Inc. reported total sales of $99 million for the third quarter ended September 28, a 17% increase over the same period in 2001.
Wholesale sales were $53.2 million, a 20% increase over the year ago quarter, while retail sales were $45.8 million, a 13% increase. However, mail order sales decreased 8% in the quarter.
Net income for the fiscal 2002 third quarter increased 34% to $11.3 million. Operating profit for the quarter increased 21% to $19.7 million, from $16.3 million for the prior year quarter.
For the first nine months of 2002, sales were $268.5 million, a 21% increase over the first nine months of 2001. Net income for the nine months ended September 28, 2002, increased 70% to $24.7 million. Wholesale sales, including European operations, were $139.5 million, a 23% increase over the same period last year; retail sales were $129.1 million, an 18% increase. Comparable store sales in the 168 stores that have been open more than one year and mail order sales decreased 3% for the first nine months of 2002.
Operating profit for the first nine months of 2002 increased 36% to $44.1 million, from $32.5 million operating profit before restructuring charges for the prior year period.
The South Deerfield, MA-based candle manufacturer and retailer opened 18 new retail stores and entered two new states, Arkansas and Mississippi, during the third quarter, ending the quarter with 236 stores in 42 states.
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