iParty (IPT) October Revs Down 6.5%; to Explore Strategic Options
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iParty Corp. (AMEX: IPT) reported sales of $16.4 million for the calendar month of October, 2012, a decrease of 6.5% compared to total company sales in calendar October 2011.
Sal Perisano, Chairman and Chief Executive Officer of iParty Corp., commented “For the second consecutive year, our Halloween business was impacted by severe storms hitting the Northeast, in both years striking two days before the Halloween holiday. The anticipation of Hurricane Sandy in our core markets disrupted normal business for several days prior to the storm’s actual passage and closed most of our stores in our core market the day of the storm. Despite the severity of Hurricane Sandy, and widespread power outages throughout our market area, none of our stores were closed for any significant period in the two days following the storm. In spite of the impact of the severe weather and a mid-week Halloween, we are trending ahead of last year through the first ten months with comparable store sales increasing 1.3% compared to the same period last year.”
Sal Perisano further stated, “We are also announcing today that we have engaged the investment bank of Raymond James & Associates to assist us in exploring a broad range of financial and strategic alternatives. Having completed our busiest season, we look forward to working with Raymond James in exploring ways to grow the company and enhance shareholder value.”
Sal Perisano, Chairman and Chief Executive Officer of iParty Corp., commented “For the second consecutive year, our Halloween business was impacted by severe storms hitting the Northeast, in both years striking two days before the Halloween holiday. The anticipation of Hurricane Sandy in our core markets disrupted normal business for several days prior to the storm’s actual passage and closed most of our stores in our core market the day of the storm. Despite the severity of Hurricane Sandy, and widespread power outages throughout our market area, none of our stores were closed for any significant period in the two days following the storm. In spite of the impact of the severe weather and a mid-week Halloween, we are trending ahead of last year through the first ten months with comparable store sales increasing 1.3% compared to the same period last year.”
Sal Perisano further stated, “We are also announcing today that we have engaged the investment bank of Raymond James & Associates to assist us in exploring a broad range of financial and strategic alternatives. Having completed our busiest season, we look forward to working with Raymond James in exploring ways to grow the company and enhance shareholder value.”
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