Party City to shrink corporate workforce by 19% as consumers pull back

Retail Dive

The Halloween season, which historically has made up a sizable chunk of Party City’s sales and profits, could have been worse, yet it still came in at the low end of the company’s own expectations. Weston attributed this to “macro pressures [that] impacted customers’ ability and willingness to increase spend on Halloween celebrations.”

n a research note earlier this week, Telsey Advisory Group analysts pointed to strategic initiatives that could help Party City, including its next generation stores as well as a “focus on balloons, product innovation, and inventory reduction.” At the same time, the analysts also said that “uncertainty about the level of demand, more promotions at discounters that can result in lower traffic to Party City stores, and the ability to manage rising costs keep us concerned.”

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