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Party City Holdco Inc.

partycity.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Sep 26, 2024.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Sells party supplies to shoppers through stores and online, and makes and wholesales decorated party goods to retailers.

How Did They Make Money?

Shoppers pay for store purchases at checkout and online orders on delivery; franchisees owe sales-based royalties as their sales occur. Retailers buy wholesale goods, with most payments due 30 to 120 days after shipment.

FY2022 revenue by reportable segment revenue
SegmentShareRevenue
Retail Segment
Sold outright

82%
FY2019: 75%
Wholesale Segment
Sold outright

18%
FY2019: 25%

Who Were Their Customers?

Shoppers buy in Party City stores and online; retailers and distributors receive wholesale goods directly, including party stores, mass merchants and dollar stores.

Did Revenues Turn Into Profits?

No. It lost $942.6M in FY2022.

Operating income, FY2022
−40% of revenue
▼ Now a loss vs FY2021 ($84.6M, 4%)
Net income, FY2022
−43% of revenue
▲ +14340% (Loss) vs FY2021 (−$6.5M, 0%)
Free cash flow, FY2022
−11% of revenue
▲ +814% (Loss) vs FY2021 (−$27.3M, −1%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q3 FY2023, the three months to Sep 30, 2023
Revenue
▼ −19%
vs $502.2M in Q3 FY2022
Net income
▼ −83% (Loss)
vs −$521.3M in Q3 FY2022
Retail Segment share of revenue vs 78.6% in Q3 FY2022

Shrank. Revenue fell 11% in 4 years, from $2.4B in FY2018 to $2.2B in FY2022, about 3% a year.

Revenue over time
Retail Segment Wholesale Segment
$2.5B$1.3B$0

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