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PRTY - Party City Holdco Inc
$8.25
0.59(7.70%)12:00:00 AM 3/2/2021
Party City is an American publicly traded retail chain of party stores founded in 1986 by Steve Mandell in East Hanover, New Jersey. Based in Elmsford, New York, the company is the largest retailer of party goods in the United States, Canada and Mexico, operating over 900 company-owned and franchise outlets under the Party City, Halloween City, Toy City, and Factory Card & Party Outlet brands. Party City was founded by Steve Mandell in 1986, Mandell recognized that the market for party goods was highly fragmented with a lot of small mom-and-pop operations, a large number of retailers carrying limited supplies, and no big players dominating the party goods market. Mandell decided to specialize in the business when he struck out on his own to realize his long-cherished goal of running his own retail operation. After scraping together $125,000, he opened a 4,000 square feet store in East Hanover, New Jersey, naming it Party City. The operation was immediately successful and within a year Mandell started planning for a second location. He also began to hear from people asking to franchise the Party City concept, and as a result Party City began its evolution into a national chain. After his first year in business Mandell also decided to concentrate on Halloween, so that in 1987 over a quarter of his store was turned into a "Halloween Costume Warehouse." The move proved highly successful and led to the company's ongoing focus on the holiday, and the major impact that the month of October would have on the company's bottom line. Year-round, Party City stocked an inventory of Halloween costumes, if for no other reason than to make customers aware of the items for the next Halloween season. One quarter of Party City's 2015 revenue came from Halloween; the company operates about 300 Halloween City pop-up stores.
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    02/25/2021PRTY
    Party City to Report Fourth Quarter and Full Year 2020 Financial Results on March 11, 2021

    ELMSFORD, N.Y., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Party City Holdco Inc. (NYSE:PRTY) today announced that its fourth quarter and full year 2020 financial results will be released prior to market open on Thursday, March 11, 2021. The Company will host a conference call at 8:00 a.m. Eastern Time on that day to discuss the detailed financial results. Investors and analysts interested in participating in the call are invited to dial 844-757-5731 (international callers please dial 412-542-4126) appro...

    02/9/2021PRTY
    Why Party City's Shares Plunged 13.4% Today

    Shares of retail stock Party City Holdco (NYSE: PRTY) plunged as much as 13.4% in trading Tuesday after the company announced a large debt offering. Management announced that Party City is proposing an offering of $725 million of senior secured notes due in 2026, which will be used in part to pay off a term loan that matures in 2022. 2020 was a rough year for Party City, so it's not surprising that a debt offering is being proposed to cover any losses that may occur.

    02/9/2021PRTY
    Party City Announces Offering of Senior Secured Notes to Refinance Term Loan Maturing 2022

    ELMSFORD, N.Y., Feb. 09, 2021 (GLOBE NEWSWIRE) -- Party City Holdco Inc. (“the Company” or “Party City”) (NYSE: PRTY) today announced the proposed offering by its wholly-owned subsidiary Party City Holdings Inc. (“PCHI”) of $725 million aggregate principal amount of senior secured notes due 2026 (the “Notes”). The Notes and the related Notes guarantees will be offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securit...

    01/13/2021PRTY
    Party City Falls on Weak Q4 Preliminary Results

    Shares of retailer Party City fell sharply Wednesday after the company reported preliminary fourth quarter sales results that were lower than Wall Street expected. The Elmsford, New York-based company expects to report fourth quarter revenue between $645 million and $650 million, compared to FactSet's consensus estimate of $676.5 million. Party City shares were down 7.0% to $7.51 on Wednesday afternoon.

    01/13/2021PRTY
    Why Party City Stock Crashed Today

    Shares of Party City (NYSE: PRTY) have crashed today, down by 13% as of 12:10 p.m. EST, after the company reported preliminary fourth-quarter results. Brand comparable sales are forecast to decline in the mid-single-digit range, which is worse than Party City's guidance of "flat to down a low single digit percentage." "We are pleased with the progress we continued to make in the fourth quarter against our strategic initiatives to reinforce our position of authority when it comes to celebration...

    01/13/2021PRTY
    Party City stock slumps after Q4 business update shows weak sales

    Party City Holdco Inc. shares slumped 12.6% in Wednesday premarket trading after the retailer said its fourth-quarter sales missed Street expectations. In a fourth-quarter business update issued after hours on Tuesday, Party City said preliminary revenue is $645 million to $650 million. The FactSet consensus is $676.5 million. Comparable sales are expected to fall in the mid-single digit range, while the FactSet consensus is for a 2.3% decline. "[T]he rapid surge in COVID-19 cases had a greater...

    01/12/2021PRTY
    Party City Updates Fourth Quarter Outlook Ahead of Participation at the ICR Conference

    ELMSFORD, N.Y., Jan. 12, 2021 (GLOBE NEWSWIRE) -- Party City Holdco Inc. (NYSE: PRTY) today updated its outlook for total revenue, brand comparable sales, and Adjusted EBITDA for the fourth quarter fiscal 2020. The following are the Company’s updated expectations for the fourth quarter ended December 31, 2020: * Preliminary total revenue is estimated to be approximately $645 million to $650 million * Brand comparable sales are expected to decrease in the mid-single digit range * Adjusted EBI...