Yankee Candle to shut down 10 to 20 store, cut jobs

[mommytotwo]

(South Deerfield, MASS - AP) — Shares of Yankee Candle were down nearly eight percent after the South Deerfield-based candle maker announced plans to close up to 20 underperfoming stores.

In addition to the cuts in retail operations, Yankee Candle also says it will eliminate an unspecified number of administrative jobs.

The company also plans to raise prices due to higher costs for candle wax.

The moves came as Yankee Candle announced its third-quarter profit declined by about three percent to 15-point-four million dollars. Sales rose nearly seven percent in the July-to-September period.

The company isn't giving the locations of the stores it plans to close.



Since we have alot of Yankee Candle lovers here and thought this story was interesting, thought I would share it.
I also hear that they will increase the price of their tarts to $1.89 each.

 

[SillyMe]

We don't have any Yankee Candle stores in my area. I wish we did. I buy mine at Hallmark Stores, Bed Bath & Beyond or a local general store. They can raise the prices as much as they want. I won't stop buying them.

 

[Pooh Girl 71]

I thought something might be up. I was in there last week and they aren't having specials anymore. You used to be able to get 12 tarts for $12 and a certain number of votives for a lesser price. They did away with that and starting in Nov, they won't have the scent of the month. What a shame.

 

[SillyMe]

I guess I'll just have to go buy double now, to try to keep them in business.

 

[ADisneygirl]

With all the Yankee Candle fanatics on the DIS I am surprised to hear they are having business troubles. My Yankee Candle store in the mall is always busy.

 

[Cindy B]

The new concept store that they put in a local mall never has anyone in it. That is a shame with the candle of the month special going away. That was the only ones I would buy.

If one store closure is Marlton NJ I wouldn't be suprised. Many times I see no one in there!

 

[Lesleyluvdisney]

Hi
Im from scotland! and we get yankee candles here

the mid-size jars are about £9.99 ($17.00)

The tarts are about £1.99 ($3.20).

But I was on a trip to washington DC & Baltimore last year, and I found a gingerbread candle by swan creek candle co - ohh wow it was fab!

have tried for a year to order them but cant get them in UK - tried website- dont ship, my friend was in Boston last month - couldn't get them!!!

Any ideas?

 

[kpm76]

Sorry to hear this...hope the stores that are closing don't do so before the holidays...that would be really tough for the employees adversely affected. DH and I are taking a trip to the flagship store next weekend....it's so much fun and they have an outlet store there as well so we can get some really good deals

 

[Jenn Lynn]

That's interesting. They just opened a new store at my mall.

 

[lulubelle]

I buy a lot of Yankee Candles. I think of it as an inexpensive indulgence. They sell them all over the place here. I actually prefer PartyLite candles but you can only buy them thru a hostess at a party - I don't like those type of gatherings . Haven't heard of Gold Canyon, can you order from a website or do you have to go to a party? I would try them if they really are better.

 

[Pooh Girl 71]

They are opening a HUGE store in Williamsburg on Nov. 2nd.

 

[safetymom]

There really aren't a lot of deals at the factory store unless you happen to hit it when they are having a clearance sale.

It's still a great place to shop for your candles since they have a very large selection in one place.

Sorry to hear they are getting rid of the scent of the month and raising prices. Yankee candles are still the best.

 

[DisneyAddict_M]

$20 for a jarred candle isn't enough? They're already overpriced.

 

[olena]

After the last price hike, I rarely shop there anymore. Rarely just might turn into never.

 

[Blondie]

We just got a YC store in my area, I hope it's not one of the stores slated for closure!

 

[chrissyk]

I normally only shop there right after the holidays, when they run their big sale. I hope that they don't stop having that sale! That's when I stock up on inexpensive jar candles for the year.

 

[C.Ann]

Cape Cod Candles are great too and they have several outlet stores on the Cape..