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Net sales drop 8% due to economy, costs
June 5, 2008
By: TOM BRANNA
Editor
For the first quarter ended April 30, 2008, net sales at Blyth, Inc. declined approximately 8% to $249.8 million. Operating profit dropped 7% to $10.0 million, reflecting lower sales and profits within PartyLite U.S. and higher seasonal losses from most of Blyth’s wholesale and catalog/Internet businesses. Commenting on the company’s financial results, Robert B. Goergen, Blyth’s chairman of the Board and chief executive officer, said, “The continued deterioration of the...
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