Party City's stock rocked after surprise loss, revenue miss and guidance cut [MarketWatch]
Party City Holdco Inc. (PRTY)
Last party city holdco inc. earnings: 3/12 06:55 am
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investor.partycity.com/investors/default.aspx
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Source: MarketWatch
Party City's stock rocked after surprise loss, revenue miss and guidance cut Shares of Party City Holdco Inc. PRTY, -54.59% plummeted 41% in premarket trading, putting them on track to open at a record low, after the party goods retailer reported a surprise third-quarter loss, revenue that fell more than expected and cut its full-year outlook, citing negative effects of helium shortages and weak Halloween sales. The company reported late-Wednesday a net loss that widened to $39.7 million, or $3.02 a share, from a loss of $2.0 million, or 3 cents a share, in the year-ago period. Excluding non-recurring items, such as charges relate to its store-optimization program, the adjusted loss per share was 28 cents, compared with the FactSet consensus of breakeven. Revenue fell 2.3% to $540.2 million, below the FactSet consensus of $551.0 million. Branded same-store sales decreased 2.6%, with a 210 basis point (2.1 percentage points) headwind from the helium shortage. Halloween product sales
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