Nov 10, 2020
Party City sees better than expected Q3 performance
Party City announced financial results for the third quarter that ended September 30, 2020, as well as total revenue for fiscal October 2020.
“We are very pleased with our better than expected third quarter performance, highlighted by the continued strength in our core business. Against a pandemic-impacted environment, we delivered $534 million in sales, including an 8.3% brand comparable sales increase, a stabilization in our Wholesale revenues and an almost threefold increase in Adjusted EBITDA over the prior year period,” Brad Weston, chief executive officer for Party City, stated.
“The strides we are making to increase relevancy and elevate our customer experience across channels continue to strengthen our position of authority when it comes to celebrations. In addition, these results reflect the consumers’ desire and willingness to celebrate and are a testament to the agility and discipline with which we are operating the business,” Mr. Weston added.