Blyth Reports Decline
August 10, 2015 Leave a comment
Blyth Inc. (BTH—NYSE), a designer and marketer of candles and accessories as well as health, wellness and beauty products, today reported sales and earnings for the second quarter of 2015.
Net sales for the three months ended June 30, 2015, decreased approximately 16 percent to $88.0 million from $104.2 million for the comparable prior year period.
Commenting on the performance of PartyLite Worldwide, Robert B. Goergen Jr., CEO of Blyth and President, PartyLite Worldwide said, “In Europe, sales declined 15% in local currency while the Consultant base declined 6%, reflecting underperformance in many of our European markets. However, while total year-over-year Consultant count declined in our mature markets, the decline was at a lesser rate in every market when compared to 2014’s second quarter. This is the second consecutive quarter we’ve seen this positive trend.
“In addition, eCommerce sales experienced growth in the quarter. While European profits declined versus last year, the profits include one-time costs to close the Cumbria U.K. candle manufacturing plant and move all candle production to our Batavia, Illinois, Global Center of Manufacturing Excellence. Going forward we expect to show a reduction in costs and to build a platform for improving profitability worldwide.”
Read more about Blyth’s second quarter results here.