The CEO of Party City said the earlier Easter holiday hurt its second quarter traffic as the retailer reported a loss.
In the second quarter ended June 30, the party supply retailer said same-store sales rose 1.2%, shy of analysts' forecasts for growth of 2.8%. The company also posted a loss of $23 million, or 20 cents a share, compared with a profit of $2.5 million a year earlier. Overall, sales rose nearly 1% to $495.5 million in the quarter.