Blyth Reports Q1 Decline; Blames Strong US Dollar

Blyth, Inc.  sales and earnings for the first quarter of 2015. Net sales for the three months ended March 31, 2015 decreased 12% to $103.7 million. In the candles and home décor segment, PartyLite sales slipped 19% to $65.7 million. 

Commenting on the first quarter results, CEO Robert B. Goergen, Jr. noted, “While our catalog and internet segment sales gained over the prior year period, our candles and home decor segment sales were negatively affected by the increasing strength of the US dollar versus the euro, as well as the lower number of independent sales consultants. Absent the adverse currency impact, we experienced year-over-year sales growth in all of our emerging markets as well as in several of our mature markets, including Germany, Austria, the UK and Australia.”

According to Goergen, in the first quarter, the company successfully moved all candle production to its Batavia, IL facility, which is expected to result in annualized savings of $8.0 million.