Sharpie maker Newell Brands to close 20 Yankee Candle stores, cut 900 jobs

Newell Brands will close 20 Yankee Candle stores across North America starting in January as part of a plan to simplify the brand’s retail footprint.

The closures, which represent approximately 1% of the brand’s sales, are part of the company’s broader improvement plan to align its footprint with “modern consumer shopping behaviors and support its omnichannel growth strategy.”

Michael Kittredge started Yankee Candle Company in 1969 and opened his first official store four years later in South Deerfield, Massachusetts. The candle company became a household name in the 1980s and 1990s. Jarden Corp. bought Yankee Candle in 2013 for $1.75 billion. The candle company became part of Newell Brands after Newell Rubbermaid merged with Jarden Corp. In 2016.

Newell, which also owns brands like Sharpie, Rubbermaid and Mr. Coffee, announced a global strategy aimed at building a more resilient, high-performance organization that can better compete in the marketplace.

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Aside from closing certain stores, the company will also reduce its global workforce by more than 900 employees, or approximately 10%. Of professional and clerical staff. There will be “limited impact” on manufacturing operations or the supply chain, according to Newell.

Most of the professional and clerical cuts will occur in the US in December, with further layoffs continuing in its international markets through 2026.

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Yankee Candle’s flagship store is in South Deerfield, Massachusetts. (Getty Images)

The latest moves build on a transformation plan launched in 2023. However, Newell says the latest changes will make the company operate more efficiently by setting higher performance expectations, trimming unnecessary steps and focusing spending on what adds the most value.

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View candles at Yankee Candle’s flagship store in South Deerfield, Massachusetts. (John Grimm/LightRocket via Getty Images)

Chris Peterson, Newell’s CEO, said the company has made “measurable progress” in executing on its strategy and strengthening Newell Brands but there is more work to be done.

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“This productivity plan is about taking the next disciplined step to drive efficiency, sharpen our strategic focus and deliver stronger, more consistent performance,” Peterson said. “Ultimately, our goal is to deliver greater value to consumers and create long-term sustainable value for our shareholders.”