Party City (PRTY) Reports Q1 Loss of $0.28/sh

Party City (NYSE: PRTY) reported Q1 EPS of ($0.28), versus $0.01 reported last year. Revenue for the quarter came in at $414 million, versus $513.12 million reported last year.

Fiscal 2020 Outlook:

During the remainder of 2020, the Company plans to close approximately 21 stores, open 2 new stores, with the remaining 10 planned new store openings likely to shift into 2021.

In 2020, the Company plans to invest approximately $35-$40 million dollars in capital expenditures, with approximately one third invested in its retail segment, and the balance invested in its manufacturing and distribution capabilities.

As a result of the continued disruption and uncertainty caused by the COVID-19 pandemic, the Company is not providing any additional financial outlook information at this time for fiscal 2020.

For earnings history and earnings-related data on Party City (PRTY) click here.

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