{"id":523799,"date":"2021-08-05T06:53:15","date_gmt":"2021-08-05T10:53:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/party-city-reports-second-quarter-2021-results-and-provides-third-quarter-2021-business-outlook\/"},"modified":"2021-08-05T06:53:15","modified_gmt":"2021-08-05T10:53:15","slug":"party-city-reports-second-quarter-2021-results-and-provides-third-quarter-2021-business-outlook","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/party-city-reports-second-quarter-2021-results-and-provides-third-quarter-2021-business-outlook\/","title":{"rendered":"Party City Reports Second Quarter 2021 Results and Provides Third Quarter 2021 Business Outlook"},"content":{"rendered":"
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\n Total Sales increased 110.4% versus prior year; Comparable Sales increased 118.3% versus prior year and 19.1% versus Q2 2019 driven by strength in core categories<\/em>
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\n GAAP Net Income of $29.8 million versus a Net Loss of $130.0 million in Q2 2020<\/em>
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\n Adjusted EBITDA of $85.8 million versus a $42.8 million Adjusted EBITDA Loss in Q2 2020<\/em>
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ELMSFORD, N.Y., Aug. 05, 2021 (GLOBE NEWSWIRE) — Party City Holdco Inc. (the \u201cCompany\u201d or \u201cPRTY\u201d; NYSE:PRTY) today announced financial results for the quarter ended June 30, 2021.<\/p>\n

Brad Weston, Chief Executive Officer of Party City, stated, \u201cWe are very pleased with our strong second quarter results that exceeded our expectations. We saw sequential acceleration of the business as the economy opened up and restrictions subsided, driving increased consumer ability to celebrate. The quarter was highlighted by robust trends at Retail with the recovery at Wholesale underway, as expected. The strength in performance was broad based, particularly across our core everyday business, along with improved results in our seasonal categories. The consistent strength that we have demonstrated in our core everyday performance is a testament to the disciplined execution of our strategic initiatives and meaningful progress against our transformation strategy, with the resulting relevancy strides positioning us to capitalize on the near and long-term growth opportunities.\u201d<\/p>\n

Mr. Weston added, \u201cAs we look to the back half of the year, the environment remains dynamic but we are well positioned for continued growth. We are excited about our refined marketing, improved store experience and elevated omni channel capabilities, as we continue to deliver on our mission of inspiring joy and making it easy to create unforgettable memories.\u201d<\/p>\n

\n Second Quarter Summary*:<\/strong>\n <\/p>\n