Greenwich-based home fragrance and decor company Blyth (NYSE: BTH) announced last week a 16 percent decline in net sales for the second quarter of 2015 over the same period a year ago.
Net sales were $88 million compared to $104 million a year ago. The performance is only the latest in a string of poor quarterly reports from the company, and as a result shares have continued to plummet. Shares hit a 52-week low of $2.90 Wednesday and were up 0.59 percent at the end of trading Wednesday, still down almost 63 percent over a year ago.
Operating losses for the company totaled $7.1 million for the second quarter, compared to $2.1 million a year ago. The company recorded restructuring and impairment costs of $2.4 million at PartyLite’s manufacturing plant in Cumbria, England, related to the