Candle maker Blyth Inc. (BTH.N: Quote, Profile , Research) posted a quarterly loss on Wednesday on lower sales, restructuring charges and the divestiture of a unit.Profit before one-time items was well below analyst estimates and the company lowered its full-year earnings forecast, sending its shares down more than 10 percent.
Blyth is in the midst of restructuring its North American wholesale home fragrance business, reducing the number of items it sells, stopping business with unprofitable customers and closing a manufacturing plant.
The company also has seen sales fall at its PartyLite direct selling business as the number of consultants who sell its products has dropped.
UPDATE 2-Blyth posts 3rd-qtr net loss, shares plunge | Markets News | Reuters.com
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