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YCC Yankee Cdle

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Share Name Share Symbol Market Type
Yankee Cdle NYSE:YCC NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Yankee Candle Appoints Michael Archbold to Board of Directors

04/05/2005 12:00pm

Business Wire


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The Yankee Candle Company, Inc. ("Yankee Candle" or the "Company") (NYSE:YCC), the leading designer, manufacturer, wholesaler and retailer of premium scented candles, today announced that Michael Archbold has been appointed to the Company's Board of Directors. Mr. Archbold is currently Executive Vice President and Chief Financial Officer of AutoZone, Inc., a leading retailer of automotive parts and accessories. "We are very pleased to be able to add Michael Archbold to our Board of Directors," said Craig W. Rydin, Chairman and Chief Executive Officer of Yankee Candle. "Mike brings to the Board a wealth of financial, management and business experience and expertise. Moreover, his extensive retail experience as Chief Financial Officer at an industry-leading retailer such as AutoZone, and previously in various financial leadership roles with another leading retailer in Barnes & Noble, make him an ideal fit for our Board. We look forward to Mike's contributions, which will further increase the ability of our Board to provide the type of strong financial guidance and oversight that is essential in today's environment." Mr. Archbold joined AutoZone, Inc. in 2002 as Senior Vice President and Chief Financial Officer and was promoted to his current position as Executive Vice President and Chief Financial Officer in 2004. Prior to joining AutoZone, Mr. Archbold held various financial leadership positions of increasing responsibility with Barnes & Noble, Inc. from 1996-2002, and served as Vice President and Chief Financial Officer of Barnes & Noble's Booksellers Division from 2000-2002. Prior to Barnes & Noble, Mr. Archbold served in various financial positions, including Assistant Controller, with Woolworth Corporation (now Foot Locker, Inc.) from 1988 to 1996. "I am excited to become a Director of Yankee Candle, an industry-leading company with a strong brand and proven track record of sustained and profitable growth," said Mr. Archbold. "I look forward to working with the Company's management team and my colleagues on the Board to continue to leverage the Yankee Candle brand and further build upon the Company's record of success." Mr. Archbold's appointment fills the vacancy resulting from the recent resignation of Robert R. Spellman from the Board. With Mr. Archbold's appointment, Yankee Candle's Board of Directors is comprised of eleven members, ten of whom are deemed "independent" as defined pursuant to applicable New York Stock Exchange rules. Mr. Archbold was also named to the Company's Audit Committee. About The Yankee Candle Company, Inc. The Yankee Candle Company, Inc. is the leading designer, manufacturer, wholesaler and retailer of premium scented candles in the giftware industry. Yankee has a 35 year history of offering distinctive products and marketing them as affordable luxuries and consumable gifts. The Company sells its products through a North American wholesale customer network of approximately 16,100 store locations, a growing base of Company owned and operated retail stores (357 located in 42 states as of April 2, 2005), direct mail catalogs, its Internet website (www.yankeecandle.com), international distributors and to a European wholesale customer network of approximately 2,000 store locations (through its distribution center located in Bristol, England). This press release may contain certain information constituting "forward-looking statements" for purposes of the safe harbor provisions of The Private Securities Litigation reform Act of 1995. Forward-looking statements include but are not limited to any statements concerning the Company's or management's plans, objectives, goals, strategies, expectations, estimates, beliefs or projections, or any other statements concerning future performance or events. Actual results could differ materially from those indicated by these forward-looking statements as a result of various risks and uncertainties, including but not limited to the following: the current economic conditions in the United States as a whole and the continuing weakness in the retail environment; the risk that we will be unable to maintain our historical growth rate; the effects of competition from others in the highly competitive giftware industry; our ability to anticipate and react to industry trends and changes in consumer demand; our dependence upon our senior executive officers; the risk of loss of our manufacturing and distribution facilities; the impact on our stock price of seasonal, quarterly and other fluctuations in our business; and other factors described or contained in the Company's most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K on file with the Securities and Exchange Commission. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. While we may elect to update certain forward-looking statements at some point in the future, we specifically disclaim any obligation to do so even if experience or future events may cause the views contained in any forward-looking statements to change.

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