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November 30, 2004
By: TOM BRANNA
Editor
Greenwich, CT-based Blyth, Inc. announced a 13% drop in third quarter profits. The company blamed a weak retail environment. As a result, the company has cut its projected earnings for the year.Quarterly earnings were $30 million, compared to $34.8 million in the year-ago period. Net sales were $439.4 million, a 2% increase from a year earlier, helped primarily by the company’s December 2003 acquisition of Walter Drake.Sales rose 2% in the wholesale segment, impacted by the April divestitu...
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