PRTY - PRTY STOCK NEWS

Party City Holdings Inc. (PRTY) has selected GEP SMART as its procurement software platform after a competitive selection process. This cloud-native solution will enhance PCHI's spend analysis capabilities, allowing for greater visibility into category spending and identifying savings opportunities. According to Deborah Sorg, VP of Procurement, GEP's platform is expected to drive value and efficiencies across the organization. The investment aligns with PCHI's strategy to leverage technology for optimized operations in the consumer party products industry.

Party City Holdco Inc. (PRTY) reported its financial results for Q4 and FY 2020, revealing significant impacts from the COVID-19 pandemic. Q4 revenues fell 11.4% to $648.2 million, with retail sales showing an 8.2% decrease. The company faced a net loss of $96.4 million for the quarter. Despite challenges, operating cash flow improved year-over-year, and digital sales surged 27.1%. For 2021, Party City anticipates revenues between $397 million and $410 million, with a projected brand comparable sales increase of 26% to 31% compared to Q1 2020.

Party City Holdco Inc. (NYSE:PRTY) will release its fourth quarter and full year 2020 financial results on March 11, 2021, before market open. A conference call will be held at 8:00 a.m. ET on the same day to discuss the results.

Investors can join by calling 844-757-5731 (international: 412-542-4126) 10 minutes prior to the call, or via a live audio webcast on the company’s investor website.

Party City Holdco Inc. (NYSE: PRTY) announced a proposed offering of $725 million in senior secured notes due 2026, facilitated by its subsidiary Party City Holdings Inc. (PCHI). The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons per Regulation S of the Securities Act. Proceeds will be used to repay existing term loan borrowings and fund general corporate purposes. The notes will be secured by a first priority lien on most assets of the issuer and its guarantors.

Party City Holdco Inc. (NYSE: PRTY) updated its fourth-quarter fiscal 2020 outlook, projecting total revenue between $645 million and $650 million, with brand comparable sales expected to decline in the mid-single-digit range. Adjusted EBITDA is forecasted at $75 million to $80 million. CEO Brad Weston noted COVID-19's significant impact on customer behavior, particularly in November and December. The company anticipates closing the sale of part of its international operations by January 31, 2021, valued at approximately $59 million, to enhance inventory management and improve customer experience.

Party City Holdco Inc. (NYSE: PRTY) will present at the 2021 ICR Conference on January 13, 2021, at 8:30 a.m. Eastern Time. The event will be accessible via a live webcast, and participants are encouraged to log in 10 minutes early. Party City is the leading party goods company in North America by revenue, offering a wide range of party supplies, balloons, and costumes. With around 830 specialty retail stores and robust e-commerce operations, Party City is uniquely positioned in the market due to its vertical integration and extensive product offerings.

Party City introduces the Forget You (FU) 2020 merchandise line as a humorous farewell to a challenging year. This fresh product lineup includes wearables, balloons, and festive decor, echoing sentiments like '100% Done, 2020 Blows.' The company also offers a balloon delivery service for New Year's Eve, enhancing customer convenience. A recent survey reveals that many people plan to host events in 2021 that were canceled in 2020. Party City aims to provide safe celebration options, focusing on smaller gatherings and virtual parties.

Party City Holdco Inc. (NYSE: PRTY) has agreed to sell a significant portion of its international operations, Amscan International, to Endless LLP for approximately $59 million, which includes $45 million in cash. The sale includes Party City’s wholesale, retail, and e-commerce businesses in several countries. Additionally, a joint venture will be formed for costume sourcing and manufacturing in Asia. This move allows Party City to focus on its North American operations, aiming for profitable growth.

Party City Holdco Inc. (NYSE: PRTY) is set to present at the BofA Securities 2020 Leveraged Finance Virtual Conference on December 1, 2020, at 3:00 PM ET. Investors can access a live webcast via the company's website. Party City is recognized as North America's leading party goods company by revenue and is a prominent vertically integrated supplier of decorated party goods worldwide. The company operates approximately 830 retail outlets under the Party City and Halloween City brands, alongside a robust e-commerce platform.