The 45 stores is a decrease from the 60 Yankee Candle opened last year. During its Q4, which ended Jan. 1, the retailer opened 11 units, and it currently has stores in 43 states.
Year-over-year same-store sales for the quarter increased by 1%, an improvement from Q3's loss of 5%. For all of 2004 same-store sales fell 2% from the year before. Total sales for the quarter were $218.9 million, a 7% increase from 2003's Q4. Sales for the year were $554.2 million, up 9% from 2003. Yankee Candle sells its products wholesale in 15,600 store locations and has begun selling items in J.C. Penney stores this quarter.
Company officials said during a conference call that they were disappointed with Yankee Candle's wholesale sales, which were up 6%, a drop from 2003's Q4 increase of 21%. Craig Rydin, the Yankee Candle's chairman and CEO, said the slowdown was due to a "conservative wholesale customer base."
Yankee Candle also runs two craft stores called Old Farmer's Almanac that it rolled out this year.
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