Yankee Cdle (NYSE:YCC)
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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.