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      Party City Holdco Inc. (PRTY) stock moves up during after-hours. Let’s find out why? - Stocks Telegraph

      By Mahnoor Shah

      Published on

      December 1, 2021

      6:23 AM UTC

      Party City Holdco Inc. (PRTY) stock moves up during after-hours. Let’s find out why? - Stocks Telegraph

      Party City Holdco Inc. (NASDAQ: (PRTY) stock declined by 5.66% at last close whereas the PRTY stock price gained by 4% in the after-hours trading session. Party City Holdco Corporation is the leading vertically integrated provider of decorated party products in North America, and they think the largest vertically integrated supplier of decorated party goods internationally.

      PRTY stock’ Upcoming Event

      Members of Party City Holdco’s executive team will speak at the following investment conferences, according to the company:

      • On Wednesday, December 1, 2021, at 1:00 p.m. CT, the Stephens Annual Investment Conference will take place.
      • On Thursday, December 2, 2021, at 12:00 p.m. ET, the BofA Securities Leveraged Finance Conference will take place.

      PRTY stock’ Financial Highlights

      On November 9, 2021, Party City Holdco announced its financial results for the third quarter of 2021. Given below is the summary:

      • Total net sales were $510.2 million, down 4.4 percent from the third quarter of 2020, owing to the divestment of a large component of our overseas operations in the first quarter of 2021, which was largely offset by strong retail sales growth.
      • To 36.0 percent of net sales, the total gross profit margin grew 270 basis points.
      • Because of the impairment of some indefinite-lived intangible assets recorded in the third quarter of 2020, operating expenses were $163.6 million, or $41.4 million, lower than in the third quarter of 2020.
      • According to GAAP, the company lost $2.8 million, or $0.02 per diluted share.
      • For the third quarter of 2020, adjusted net income was $2.9 million, or $0.02 per diluted share, relative to adjusted net income of $11.0 million, or $0.10 per share.
      • Adjusted EBITDA was $42.9 million in the third quarter of 2020, compared to $49.2 million in the previous quarter.

      Brad Weston, CEO of Party City, commented

      They are really delighted with their third-quarter performance, which exceeded their expectations. They continued to be celebration-focused and took actual actions to boost relevancy with their clients to guarantee they are top of mind when it comes to everything joyous. As a result, their robust performance through October was powered by continuous success in their key categories. The team’s exceptional execution of their revised Halloween go-to-market strategy among all four channels of their business, including Party City, Party City.com, Halloween City, and Wholesale, drove the Halloween performance.

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