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Party City Holdco Inc. (PRTY) is the preeminent party goods company in North America by revenue and is also recognized as the largest vertically integrated supplier of decorated party goods worldwide. Party City serves as a one-stop shopping destination for a diverse range of party supplies, including balloons, costumes, and various other celebration essentials.
The company operates a comprehensive business structure that includes designing, manufacturing, sourcing, and distributing party goods. Their product line features paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts, and stationery. Party City's operations span over 70 countries, with a significant retail presence in North America, including approximately 830 specialty retail stores under the names Party City and Halloween City, complemented by robust e-commerce operations primarily through PartyCity.com.
Recently, Party City announced several grand re-openings of their stores with innovative new formats aimed at enhancing the customer experience. Key highlights of these re-openings include:
- West Hills, CA: A celebration on April 6, 2024, featuring interactive party planning demonstrations and exclusive in-store offers.
- East Hanover, NJ: A grand re-opening event on May 4, 2024, with showcases of creating candy buffets and balloon columns.
- Metairie, LA: Another grand re-opening on May 4, 2024, similar to East Hanover's event with additional family-friendly activities.
The company's new store formats feature unique elements like dedicated 'birthday worlds' for children's and general celebrations, making it easier for customers to find everything they need in one convenient location. These changes reflect Party City's commitment to providing a superior shopping experience and maintaining its status as a leader in the celebrations industry.
Financially, Party City continues to leverage its vertically integrated model to optimize costs and expand its market reach. The company's wholesale and manufacturing arm, Amscan, plays a pivotal role in its operational success, offering an extensive range of celebratory products.
For more information, visit PartyCity.com and follow Party City on Instagram and TikTok.
Party City Holdco Inc. (PRTY) reported total net sales of $433 million for Q1 2022, reflecting a 1.4% increase year-over-year. Comparable sales rose 2.1%, aided by strong seasonal category performance. However, the company faced a GAAP net loss of $26.9 million, driven by rising freight and material costs, leading to a decline in gross profit margin to 31.9%. Adjusted EBITDA fell to $4.6 million compared to $32.4 million a year prior. Looking ahead, PRTY anticipates continued supply chain challenges and an updated full-year revenue outlook of $2.225 billion to $2.300 billion.
Party City Holdco Inc. (NYSE:PRTY) announced its first quarter 2022 financial results will be released on May 9, 2022, before market open. A conference call will follow at 8:30 a.m. ET to discuss these results in detail.
Investors and analysts can join the call by calling 844-200-6205 (access code 069731) or 929-526-1599 for international participants. A live audio webcast will also be available at investor.partycity.com.
Party City Holdco Inc. (PRTY) reported a 7.7% increase in total net sales for Q4 2021, reaching $698.3 million, and a 17.3% increase for the full year, totaling $2.171 billion. The company experienced a GAAP net loss of $19.5 million in Q4, while adjusted net income stood at $46.7 million. Noteworthy was a 36.1% rise in adjusted EBITDA to $105.2 million for Q4. Total gross profit margin improved to 30.8%. For 2022, Party City projects revenues between $2.275 and $2.350 billion.
Party City Holdco Inc. (NYSE:PRTY) will announce its fourth quarter and full year financial results on February 28, 2022, before market open. The company will hold a conference call at 8:30 a.m. ET to review these results. Invited participants can join by dialing 844-757-5731 (or 412-542-4126 for international calls) approximately 10 minutes early. A live audio webcast will be available on the company's investor relations website.
Main Event and Party City have announced a partnership to create a streamlined experience for birthday celebrations across the U.S. Starting January 13, 2022, customers can choose from five tailored Party City Packs, featuring customized Balloon Bouquets and Party Kits. Main Event offers various activities including bowling and laser tag, enhancing the birthday experience. This collaboration aims to relieve parents from party planning stress, allowing them to focus on making memories. More details can be found on their respective websites.
Party City Holdco Inc. (NYSE: PRTY) reaffirmed its revenue expectations, predicting total revenue between $685 million and $700 million for Q4 fiscal 2021. The company anticipates a high-teens percentage increase in brand comparable sales and an Adjusted EBITDA between $100 million and $110 million. CEO Brad Weston emphasized the company's readiness for the holiday season despite supply chain challenges. However, a $70 million charge for discontinued inventory is expected. The company is focused on enhancing product assortments and in-store experiences as it heads into 2022.
Party City Holdco Inc. (NYSE: PRTY) announced participation in a fireside chat at the 2022 ICR Conference, scheduled for January 10, 2022, at 1:00 p.m. Eastern Time. A live webcast will be accessible on the company's investor relations website, with an online replay available after the event. Party City is a leading global retailer in the celebrations industry, operating over 830 stores across North America, alongside seasonal Halloween City pop-up stores. The company encompasses a Retail Division and a Consumer Products Division, with a presence in more than 100 countries.
Party City has partnered with Shipt to provide free delivery on New Year's Eve essentials from PartyCity.com. Customers can place online orders from December 17 to December 27 for delivery on December 31. This initiative aims to ease holiday stress by allowing customers to conveniently receive party supplies, from balloons to décor, at no extra cost. Shipt is enhancing its delivery capabilities by investing in its driver workforce to ensure reliable service during this busy season.
Party City Holdco Inc. (NYSE: PRTY) has announced participation in two upcoming investor conferences. The first is the Stephens Annual Investment Conference on December 1, 2021, at 1:00 PM CT, followed by the BofA Securities Leveraged Finance Conference on December 2, 2021, at 12:00 PM ET. Live webcasts of both events will be accessible on the company’s website, and online replays will be available afterward. Party City, a leader in the celebrations industry, operates over 830 stores in North America.
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