TAG Lunch Meeting with Party City

Elmsford, NY

Monday June 13, 2016

Please submit your REQUEST to attend an intimate lunch meeting with:

  • James M. Harrison, Director and Chief Executive Officer
  • Michael A. Correale, Chief Financial Officer
  • Deborah Belevan, Vice President of Investor Relations

Date: Monday, June 13, 2016

Time: 12:00PM

Venue: Party City Corporate Headquarters


Party City is the leading US party goods retailer with anticipated 2016 revenues of $2.4B and operating margin of ~14%. The company has a retail business (~70% of sales) which operates ~730 company-owned stores in North America and an e-commerce site. There are also ~180 franchised stores in North America as well as international. Halloween is the company’s strongest season, generating 25% of annual domestic retail sales. Its wholesale business (~30% of sales) designs, manufactures and distributes party goods to over 40,000 retail outlets worldwide, including Party City stores and independent party supply stores, mass merchants, grocery retailers, dollar stores and others.

Party City’s growth strategy includes: 1) expanding its store base at an annual growth rate of ~4% to 1,250 locations; 2) enhancing its omni-channel capabilities; 3) growing internationally (Mexico, Canada, Europe and Australia); and 4) undertaking strategic acquisitions as it seeks to manufacture 50% of the product it sells from 20% in 2015. The company’s increasing vertical integration and scale is the biggest driver of operation margin expansion.

During the meeting, we expect management to address recent business developments, including 1) its expanded licensing partnership with Warner Bros., 2) the potential lift from its new advertising campaign; 3) the benefit from the acquisitions of Festival SA, a costume manufacturer in Madagascar, and Accurate Custom Injection Molding, a molded plastics manufacturer based in New Mexico; 4) the impact from the calendar shift in Halloween to a Monday in 2016 from a Saturday last year; and 5) the potential for further reduction in its debt leverage.

Please submit your REQUEST by clicking HERE