Party City shrinks net loss in Q1

Elmsford, N.Y. – Party City Holdco Inc. had something to celebrate in the first quarter of fiscal 2015, shrinking net loss to $8.52 million from $19.91 million the same period a year earlier. In addition, total revenues rose 7% to $462.1 million, from $432.99 million.



Brand same-store sales increased by 5.2% aided by the shift of the Easter selling season to the first quarter, which contributed 1.5% to the increase.



“In retail, we had impressive comparable sales even after adjusting for the benefit of the Easter shift,” said James M. Harrison, CEO. “New stores and larger transaction dollar sizes driven by product expansion and innovation contributed to robust retail sales. On the wholesale side, sales performance was fueled by strong demand for licensed juvenile birthday products and metallic balloons and higher international sales.”



Looking ahead, Party City expects fiscal 2015 total revenue of $2.25 billion to $2.35 billion, based off brand same-store sales growth of 3% to 3.5%