Party City Gets A Lift From Helium News, But Needs More Than Balloons To Soar [Forbes]
Party City Holdco Inc. (PRTY)
Last party city holdco inc. earnings: 3/12 06:55 am
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Source: Forbes
Party City Gets A Lift From Helium News, But Needs More Than Balloons To Soar A helium shortage hurt Party City sales during the first quarter of 2019, but the retail chain says it has a multi-year agreement with a new supplier.. Getty Party City got a lift after the retailer revealed it has a new source of helium to keep its balloon sales afloat. But the party supply chain isn’t just betting on balloons. Investors also liked hearing that the chain will close 45 stores this year and that it is planning ahead for a changing retail landscape as part of its turnaround plan. Party City Holdco Inc., which operates approximately 870 Party City stores, has seen its store sales rise and fall over the years based on the availability of helium, the necessary ingredient for its profitable balloon category. In its first quarter earnings release Thursday, it blamed a 1.4% drop in comparable sales on the helium shortage. Helium has been in tight supply since last year, causing Party City to warn co
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