The holiday season is crucial for retailers, with November and December accounting for 19% of annual revenue. Economic challenges have hit the retail industry hard, leading to closures and layoffs. Yankee Candle, a popular brand, is facing restructuring pressures amid rising costs and tariffs. Parent company Newell Brands plans to lay off 900 employees globally, including around 100 at a Yankee Candle distribution center in South Deerfield.

Yankee Candle’s history dates back to 1969 when founder Mike Kittredge made his first candle from melted crayons. The company grew rapidly, opening flagship stores and expanding its product line. However, economic pressures have forced Newell Brands to make tough decisions, including layoffs and store closures. The company aims to streamline operations and cut costs to stay competitive in the changing retail landscape.

Newell Brands reported a 7.2% drop in net sales in the third quarter of 2025, prompting a productivity plan that includes layoffs and store closures. The company expects to save $110-130 million annually once the plan is fully implemented. Yankee Candle, a major player in the $11 billion candle industry, is reevaluating its retail footprint to align with consumer shopping trends.

The retail industry is facing significant challenges, with companies like Newell Brands making tough choices to stay afloat. As economic pressures continue to mount, retailers must adapt to changing consumer behaviors and market conditions to survive in a competitive landscape.

Read more at Yahoo Finance: 55-year-old iconic candle company closing stores, layoffs pending