Party City (PRTY) Reports In-Line Q2 EPS

Party City (NYSE: PRTY) reported Q2 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenue for the quarter came in at $495.5 million versus the consensus estimate of $507.75 million.

• Brand comparable sales increased by 1.2% and were impacted by the shift of the Easter selling season into the first quarter, which reduced our brand comparable sales growth by approximately 150 basis points, as well as lighter traffic in June.
• Retail sales increased 2.3% to $350.5 million fueled in part by the increase in same store sales as well as 20 net new stores added in the past twelve months.
• Net third-party wholesale revenues (including sales to our Party City franchise stores) decreased 2.8% to $140.7 million due to negative foreign currency impacts and the elimination of U.S. Balloon intercompany sales, partially offset by increases across several product categories and higher international sales.

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

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