PRTY Stock Price, News & Analysis

Party City Holdco Inc. (PRTY) reported third-quarter 2020 sales of $533.8 million, reflecting a 1.2% decline year-over-year. However, brand comparable sales rose 8.3%, marking the highest growth in nine years, driven by strong performance in balloons and birthday categories. Net income was $239.7 million, translating to $2.24 per share. Adjusted EBITDA stood at $49.2 million, a 187% increase from 2019. The company anticipates Q4 revenue between $675-$695 million and net income of $30-$37 million.

Party City Holdco Inc. (NYSE:PRTY) will release its third quarter 2020 financial results on November 9, 2020, before market opening. The Company will host a conference call at 8:00 a.m. Eastern Time that day to discuss the results in detail. Interested parties can join the call by dialing 866-270-1533 or by accessing the live audio webcast on the investor website. Additionally, the call will briefly cover Anagram Holdings, LLC’s third quarter financials. Party City is North America's leading party goods company with approximately 850 retail locations.

Party City Holdco Inc. announced the addition of Sarah Dodds-Brown to its Board of Directors, effective October 15, 2020. Dodds-Brown is the Executive Vice President and Managing Counsel at American Express, bringing extensive expertise in regulatory, legal, and consumer merchant services. Her appointment increases the board's independent directors to 10 out of 12 members, reflecting the company's commitment to enhancing leadership diversity. Dodds-Brown has held various leadership roles at American Express and is experienced in privacy law and data governance.

Party City Holdco Inc. announced the appointment of two independent directors, Jennifer Fleiss and Joel Alsfine, effective September 13, 2020. Fleiss brings significant digital expertise from her experience with Rent the Runway and Jetblack, while Alsfine offers extensive capital markets knowledge from MSD Capital. The Board now comprises 11 directors, including 9 independent members. The changes signify the company's transformative efforts to enhance its operations and market presence amid evolving retail dynamics. Morry Weiss retired from the Board after five years of service.

Party City reveals its Halloween 2020 trends, noting that 96% of parents plan to celebrate, with 70% seeking alternatives to traditional trick-or-treating. The company emphasizes a mix of décor and safety with a rise in at-home celebrations (63%) and neighborhood events (68%). Trends include 'Booing' goodie bags for contact-free fun, a return to creative costumes influenced by pop culture, and virtual workshops. Party City positions itself as a one-stop shop for Halloween, focusing on customer safety with contactless payment and curbside pick-up options.

Party City Holdco Inc. (NYSE: PRTY) plans to release its second quarter 2020 financial results on August 6, 2020, before market open. The company will conduct a conference call at 8:00 a.m. ET to discuss these results. Interested participants can join by dialing 866-270-1533 or 412-317-0797 for international callers. Party City is recognized as a leading provider of party goods in North America, with approximately 850 retail stores and a strong e-commerce presence.

Party City Holdco Inc. announced the expiration of its Exchange Offers, Consent Solicitations, and Rights Offering as of July 24, 2020. Approximately 84.7% of existing unsecured notes were tendered for exchange. The company has waived a minimum participation condition, and the transactions are expected to settle by July 30, 2020. The Refinancing Transactions are set to involve issuing approximately $110 million of First Lien Anagram Notes, among other securities. Total subscriptions amount to $19.9 million in First Lien Anagram Notes during the Rights Offering.

On July 13, 2020, Party City Holdco Inc. announced successful participation in its Exchange Offers for Existing Notes, achieving over 83% participation, including 93% for 2023 Notes and 75% for 2026 Notes. The Company extended the early participation deadline to July 24, 2020. Eligible holders can exchange their notes for shares of Common Stock, Second Lien Anagram Notes, and First Lien Party City Notes. The completion of these transactions is contingent on minimum participation conditions, which could impact the Company’s obligations post-settlement.

Party City Holdco Inc. (PRTY) announced it has regained compliance with NYSE listing standards after its stock price exceeded $1.00 for a consecutive 30-day period. Previously, the company was notified on April 9, 2020, of non-compliance due to its average closing price being below this threshold. CEO Brad Weston expressed satisfaction with regaining compliance, emphasizing their focus on strategic plans to strengthen financial stability and enhance Party City's market position in celebration supplies.