Party City Announces Second Quarter 2018 Financial Results
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Party City (PRTY) Tops Q2 EPS by 1c, Revenues Miss; Offers FY18 EPS/Revenue Outlook
August 9, 2018 7:06 AM EDTParty City (NYSE: PRTY) reported Q2 EPS of $0.40, $0.01 better than the analyst estimate of $0.39. Revenue for the quarter came in at $561 million versus the consensus estimate of $563.91 million.
Total revenues increased 3.0% on a reported basis to $561.0 million and 2.3% on a constant currency basis.Retail sales increased 2.9% on a reported basis (2.6% on a constant currency basis), driven primarily by square footage growth from store acquisitions.Brand comparable sales increased 0.1% during the second quarter despite headwinds from a shift in the timing of Easter (first quarter 2018 versus second quarter 2017). Excluding the shift, underlying brand... More