Yankee Candle Owner Newell Brands Is Cutting Workforce, Closing Stores

Yankee Candle owner Newell Brands is reducing its global workforce by more than 900 employees and closing 20 Yankee Candle stores.

The layoffs will hit approximately 10% of its professional and clerical employees, with limited impact on manufacturing or supply chain operations.

The store closures will occur in the US and Canada. Collectively, they represent roughly 1% of brand sales, according to the company.

The layoffs in the US are expected to occur this month. Internationally, the reduction in staff will continue through 2026, subject to local law and consultation requirements.

“We’ve made meaningful progress executing our strategy and strengthening Newell Brands, but there is more work to do,” said Chris Peterson, president and CEO. “This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance. Ultimately, our goal is to deliver greater value for consumers and create sustained long-term value for our shareholders.”

The retail closures align with modern shopping behaviors and Newell’s multi-channel growth strategy, according to the company.

Newell Brands expects to record pre-tax restructuring and related charges of approximately $75 million to $90 million, primarily for severance and related costs, with most of the charges to be recognized by the end of 2026. Once fully implemented, Newell says the plan is expected to generate annualized pre-tax cost savings of approximately $110 million to $130 million.

Q3 Fragrance Sales Decline

In the third quarter, Newell’s Home & Commercial Solutions segment —where Yankee Candle resides—generated net sales of $942 million compared with $1.0 billion in the prior year period, reflecting a core sales decline of 9.8%, as well as the impact of favorable foreign exchange. Operating income was $40 million, or 4.2% of sales, compared with operating loss of $94 million, or negative 9.0% of sales, in the prior year period. Normalized operating income was $64 million, or 6.8% of sales, compared with $122 million, or 11.7% of sales, in the prior year period.

Newell Brands is part of Happi’s Top 50. In 2025, it was ranked No. 35 in our list of the largest US-based companies in the household and personal products industry.

Yankee Candle’s Revitalization Effort

In July, Yankee Candle took steps to revitalize the brand. Efforts included the introduction of a cohesive, modernized design, a new wax blend in its iconic large jar and a new lifestyle campaign.

The upgraded wax formulation offers an improved burn and fragrance throw as well as reduced soot and tunneling for a consistent burn experience, according to the brand.

Design wise, Yankee Candle opted for fragrance-first visuals and a cohesive design to offer a more elevated and unified look, according to the company.

“This relaunch marks a significant moment in Yankee Candle’s evolution—not just in how our products look and perform, but in how they connect emotionally with consumers,” Aaron Swart, SVP general manager of home fragrance, Newell Brands, said in a press statement.

The company also rolled out a new premium line, Yankee Candle YC Collection. It features scents such as Dolce, Nectar, Birch and Marine housed in a curved glass vessel with minimalistic gold detailing and an embossed metallic lid featuring the YC emblem. A single wick candle in the line is $32 and the three wick candle is $45.

Newell recently opened a Customer Experience Center (CEC) at its Hoboken, NJ office. The new 12,000-square-foot space includes a dedicated product showroom.

The Hoboken location offers accessibility and proximity to key markets, according to Newell, which has its headquarters in the Atlanta, GA area.

Holiday 2025 Home Fragrance

For this year’s critical holiday season, Yankee Candle formed a partnership with Warner Bros. Discovery Global Consumer Products to offer The Polar Express Collection, a limited-edition line inspired by the holiday film.