What’s Going On At Newell Brands?

Newell Brands — parent company of Yankee Candle, Rubbermaid, Sharpie and Elmer’s — is cutting over 900 jobs globally and closing 20 Yankee Candle stores across Canada and the US as part of its latest restructuring initiative (Wall Street Journal).

• Canadian locations are included in the 20-store closure plan scheduled for early 2026, though specific store names have not been released.
• The layoffs represent 10% of Newell’s professional and clerical workforce and will begin in the US this month, with international cuts, including Canada, continuing through next year.
• Store closures will hit about 20 Yankee Candle locations in the US and Canada early next year — stores that account for just 1% of Yankee’s total sales (WSB Radio).
• Newell operates about 240 retail locations, with the vast majority under the Yankee Candle Brand.

Why It Matters for Canada

Newell Brands’ retail footprint in Canada is modest but strategic — and these closures signal the company’s broader pullback in response to declining North American consumer demand, inflationary pressures, and shifting retailer behavior.

• Yankee Candle stores generate about 1% of brand sales but are largely leased locations, making them easier targets for cost reduction.
• With many Canadian households familiar with the brand through malls and stand-alone stores, the closures mark the latest retail contraction affecting Canadian consumers and workers.

Inside Newell’s Cost-Cutting Plan

Newell...

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