LOS ANGELES, CA / ACCESSWIRE / February 18, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Party City Holdco ...
Triad Business Journal has learned that Party City (NYSE: PRTY) will occupy a new 12,000 square foot retail building under construction next to Burlington (NYSE: BURL) and Academy Sports + Outdoors stores at Huffman Mill Commons in Burlington. Huffman Mill Commons is at the northwest corner of Huffman Mill Road and Forestdale Drive, only a few blocks southwest of Holly Hill Mall and Business Center, where a new Publix supermarket is planned on the site of a former Sears store.
Retail analyst Dana Telsey expects brands such as Lululemon, Estée Lauder, and Ulta to thrive once the pandemic passes.
Party City Holdco Inc. shares plummeted 30.5% in Thursday premarket trading after the retailer reported fourth-quarter earnings and sales that missed expectations and announced that its chief executive is stepping down. Net loss totaled $501.2 million, or $2.88 per share, after income of $88.5 million, or $1.02 per share, last year. Adjusted EPS was 51 cents per share, well below the FactSet consensus of 88 cents per share. Revenue of $731.6 million was down from $805.6 million and missed the $749.0 million FactSet guidance. Same-store sales fell 5.1% versus the FactSet consensus for a 4.9% decline. Party City closed 35 Party City locations in fiscal 2019 and, after the year end, closed another 20 stores. Brad Weston will succeed Chief Executive Jim Harrison, who will become vice chairman, effective April 1, 2020. Weston was chief executive of Petco until July 2019. For fiscal 2020, Party City expects revenue to be down in the mid-single digit percentage range, same-store sales to be down in the low-single-digit percentage range, EPS of 41 cents to 48 cents and adjusted EPS of 50 cents to 68 cents. The FactSet guidance is for revenue of $2.35 billion, implying a 0.2% increase, same-store sales growth of 0.3%, and EPS of $1.03. Party City stock has lost 88% of its value in the last year while the S&P 500 index is down 1.8% for the period.
Party City Holdco (NYSE:PRTY) reported Q4 results.Quarterly Results • Earnings per share fell 52.78% over the past year to $0.51, which may not compare to the estimate of $0.88.• Revenue of $731,551,000 less by 9.20% year over year, which missed the estimate of $748,820,000.Looking Ahead • Q1 EPS expected to be between $0.50 and $1.03.How To Listen To The Conference Call • Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestor.partycity.com%2Finvestors%2Fdefault.aspx&eventid=2151076&sessionid=1&key=80061C259A43B94EC1ADCA6B77225C9D®Tag=&sourcepage=registerRecent Stock Performance • 52-week high was at $9.05View more earnings on PRTY• 52-week low: $1.01• Price action over last quarter: Up 75.21%Company Overview Party City Holdco Inc is a party goods retailer in North America that operates owned and franchised locations in the US, Canada, and Puerto Rico. Party City also sells internationally in countries like the UK, France, Germany, and Australia, among others. The company has two primary reporting segments: retail and wholesale. The retail operations sell through Anagram, Amscan, Designware, Costumes USA, and other party suppliers, such as Party City, Halloween City, and PartyCity.com. The wholesale segment sells party goods such as paper and plastic tableware, accessories and novelties, balloons, stationery, and gift items for all occasions. These products are sold by franchise stores, mass merchants, independent card and gift shops, dollar stores, and other retailers and global distributors.See more from Benzinga * Morning Market Stats In 5 Minutes * Q4 Earnings Preview: Party City Holdco(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
If you own shares in Party City Holdco Inc. (NYSE:PRTY) then it's worth thinking about how it contributes to the...
Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today announced that it received notification from the New York Stock Exchange (“NYSE”) on April 9, 2020 that the Company is no longer in compliance with NYSE continued listing criteria that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period. Under NYSE’s rules, the Company has a period of six months from receipt of the notice to regain compliance with the NYSE’s minimum share price requirement. In order to regain compliance, on the last trading day of any calendar month during the cure period, the Company’s shares of common stock, $0.01 par value per share (the “Common Stock”), must have (i) a closing price of at least $1.00 per share and (ii) an average closing price of at least $1.00 per share over the 30-trading day period ending on the last trading day of such month.
Party City Holdco (NYSE: PRTY) unveils its next round of earnings this Thursday, March 12. Get prepared with Benzinga's ultimate preview for Party City's Q4 earnings.Earnings and Revenue Party City EPS will likely be near 88 cents while revenue will be around $748.82 million, according to analysts.In the same quarter last year, Party City reported earnings per share of $1.08 on sales of $805.63 million. The Wall Street consensus estimate for earnings would represent a 18.52% decrease for the company. Sales would be down 7.05% on a year-over-year basis. Party City's reported EPS has stacked up against analyst estimates in the past like this:View more earnings on PRTY Quarter Q3 2019 Q2 2019 Q1 2019 Q4 2018 EPS Estimate 0.010 0.360 0.010 1.09 EPS Actual -0.280 0.220 0.010 1.08 Stock Performance Over the past 52-week period, shares of Party City have declined 83.7%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.Analysts have adjusted their estimates lower for EPS and revenues over the past 90 days. The popular rating by analysts on Party City stock is a Neutral. The strength of this rating has maintained conviction over the past 90 days.Conference Call Party City is scheduled to hold a conference call at 8:00 a.m. ET and it can be accessed here: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestor.partycity.com%2Finvestors%2Fdefault.aspx&eventid=2151076&sessionid=1&key=80061C259A43B94EC1ADCA6B77225C9D®Tag=&sourcepage=registerSee more from Benzinga * Q4 Earnings Preview: Dollar General * Vera Bradley: Q4 Earnings Insights * Build-A-Bear Workshop: Q4 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Party City Holdco Inc. said Friday that its corporate-owned stores will remain closed until further notice. The company has also drawn down $150 million from its $640 million revolving credit facility. Party City has withdrawn the fiscal 2020 guidance provided March 12, when it announced fiscal fourth-quarter earnings. Party City stock has lost nearly 93% of its value over the last year. The S&P 500 index is down 6.3% for the period.
LOS ANGELES, CA / ACCESSWIRE / February 11, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Party City Holdco ...
Party City Holdco Inc. stock dropped 11% in Wednesday premarket trading after it announced that its stores will remain closed until further notice. The retailer has furloughed 90% of its store staff, as well as 70% of manufacturing, wholesale and corporate staff. Party City has 18,300 employees, according to FactSet. Party City will continue to pay for health benefits and there is a fund for workers experiencing economic hardship. Chief Executive Brad Weston will halve his base salary, Chief Financial Officer Todd Vogensen will cut his pay by 30%, and the remaining senior executives will reduce their base pay by 15% to 20%. The board will also forego their second-quarter cash retainer. The company is slashing its 2020 capital expenditures. Party City stock has lost 94% of its value over the past year while the S&P 500 index is down 8.2% for the period.
Investors need to pay close attention to Party City Holdco (PRTY) stock based on the movements in the options market lately.
Q4 2019 Party City Holdco Inc Earnings Call
Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today provided a further update on its response to COVID-19. The Company announced today that it is extending the temporary store closures of its corporate owned and operated retail locations in the United States. The Company will continue to evaluate health conditions and will take into account available guidance provided by federal, state, and local government officials when making decisions to reopen stores.
Party City (PRTY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
LOS ANGELES, CA / ACCESSWIRE / February 10, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Party City Holdco Inc. ("Party City" or "the Company") (NYSE:PRTY) for violations of the securities laws. The investigation focuses on whether Party City issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
ELMSFORD, N.Y., March 18, 2020 -- Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today announced it will temporarily close its corporate owned and operated retail.
Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today announced additional measures it is taking in response to the current business environment created by COVID-19. As previously announced on March 27, 2020, the Company extended the temporary closures of its stores until further notice. The Company’s e-commerce site, www.partycity.com, remains fully operational and the number of stores offering curbside pickup continues to expand.
ELMSFORD, N.Y., Feb. 27, 2020 -- Party City Holdco Inc. (NYSE:PRTY) today announced that its fourth quarter and full year 2019 financial results will be released prior to.
ELMSFORD, N.Y., March 12, 2020 -- Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today announced financial results for the quarter and year ended December 31,.