Halloween scare: Party City plunges after slashing annual targets again [Reuters]
Party City Holdco Inc. (PRTY)
Last party city holdco inc. earnings: 3/12 06:55 am
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Source: Reuters
Halloween scare: Party City plunges after slashing annual targets again - Reuters 3 Min Read (Reuters) - Shares of Party City Holdco Inc ( PRTY.N ) plummeted 62% to a record low on Thursday after the party supplies retailer cut its annual revenue and profit forecasts for a second time, as fewer shoppers bought Halloween supplies at its stores this season. The retailer, which sells decorated party goods such as balloons and costumes in the United States, said sales of Halloween party supplies in the third quarter, including October, fell 3.2% from a year earlier. “We are carefully analyzing our Halloween results and addressing the underlying issues and opportunities we have identified to improve the business going forward,” Chief Executive Officer James Harrison said in a statement. Halloween, which fell on Oct. 31 this year, is one of the busiest holidays for party supplies retailers, when customers shop for everything from decorations to costumes. Retail group National Retail Feder
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