NYSE: PRTY Minimum 20 minute delay.
$14.40 -0.45(-3.03%) Volume: 268,692 July 21, 2017
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Company Overview & Strategy

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Party City is the leading party goods and Halloween specialty retailer by revenue in North America and, we believe, the world’s largest vertically integrated supplier of decorated party goods with multiple levers to drive future growth across channels, products and geographies.

Party City operates over 900 company-owned and franchise stores throughout North America. Our worldwide locations include our corporate headquarters in Elmsford, New York as well as locations throughout Asia, Europe, the Americas and Australia. The company also sells direct to customers through its e-commerce website, PartyCity.com.

We design, manufacture and distribute party goods found in over 40,000 retail outlets worldwide, including Party City stores as well as independent party supply stores, mass merchants, grocery retailers, dollar stores and others.

Through a series of acquisitions between 2005 and today, we have built a powerful retail operation that captures the full manufacturing-to-retail margin on a significant portion of the products sold in our stores. Our category-defining retail concept, multi-channel reach, widely recognized brands, broad and deep product offering, and low-cost global sourcing model are, we believe, significant competitive advantages which position us for continued organic and acquisition-led growth and margin expansion.

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      Stock Info

      Stock Quote

      Stock Quote: NYSE

      Party City

      NYSE:PRTY

      $14.40 -0.45 ( -3.03% ) July 21, 2017 04:03 PM Minimum 20 min delay
      Open 14.90
      Previous Close 14.85
      High 14.90
      Low 14.35
      Volume 268,692
      52-Week High 19.10
      52-Week Low 12.65

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      Firm Analyst
      Barclays Matthew McClintock
      BofA ML William Reuter
      BofA ML Curtis Nagle
      Credit Suisse Seth Sigman
      Deutsche Bank Michael Baker
      Goldman Sachs Stephen Tanal
      JP Morgan Chris Horvers
      Morgan Stanley Simeon Gutman
      Stephens Rick Nelson
      Telsey Joe Feldman
      William Blair Daniel Hofkin

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      Contact Investor Relations

      ICR
      Farah Soi & Rachel Schacter
      203-682-8200
      investorrelations@partycity.com

      FAQ

      Where is the company’s corporate headquarters?

      80 Grasslands Road
      Elmsford, New York 10523

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      What are the locations that the company operates in?

      Party City is the leading party goods retailer in North America and operates the only coast-to-coast network of party superstores in the U.S., Canada and Puerto Rico with approximately 900 owned and franchised locations. Globally, our broad selection of decorated party supplies are available in more than 100 countries with the U.K., France, Germany and Australia among our largest markets outside of North America.

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      Who sits on the company’s BOD?

      You can view the biographies of the Party City Board of Directors here.

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      Who is on the company’s management team?

      You can view the biographies of the Party City management team here.

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      When was the company’s IPO and at what price?

      Party City made its Initial Public offering on 16 April 2015 on the New York Stock Exchange under the ticker symbol ‘PRTY’. The public offering price was $17.00 per share.

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      On what stock exchange(s) is the company traded and under what symbol?

      Party City is listed on the New York Stock Exchange under the symbol “PRTY”.

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      How can I purchase the company’s shares?

      Investments in shares of stock can be made through a registered broker or through our transfer agent, Computershare Trust Company. Computershare can be contacted at the following:

      Phone: (800) 942-5909
      Website: https://www-us.computershare.com/investor/Contact/Enquiry

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      Does the company pay a dividend on its stock?

      We do not pay dividends at this time.

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      Does the company have a direct stock purchase plan for employees of the company?

      We do not have any current plans to offer a direct stock purchase plan for employees.

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      What is the company’s CUSIP and ISIN?

      CUSIP: 702149105 ISIN: US7021491052

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      What is the company’s fiscal year end?

      The Company’s retail operations define a fiscal year (“Fiscal Year”) as the 52-week period or 53-week period ended on the Saturday nearest December 31st of each year, and define their fiscal quarters (“Fiscal Quarter”) as the four interim 13-week periods following the end of the previous Fiscal Year, except in the case of a 53-week Fiscal Year when the fourth Fiscal Quarter is extended to 14 weeks. The consolidated financial statements of the Company combine the Fiscal Year and Fiscal Quarters of the Company’s retail operations with the calendar year and calendar quarters of the Company’s wholesale operations, as the differences are not significant.

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      Who is the company’s Independent Registered Public Accounting Firm?

      Ernst & Young LLP.

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      Who is the company’s transfer agent?

      Computershare Trust Company, N.A.

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      How do I transfer stock, change the address on my shareholder account, or replace a lost stock certificate?

      Computershare Trust Company can be contacted at the following:

      Phone: (800) 942-5909
      Website: https://www-us.computershare.com/investor/Contact/Enquiry

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      Who should I contact regarding investor queries?

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      Where can I find all of the SEC filings for the company? Where can I download and view quarterly and annual reports?

      You can view all of Party City’s SEC filings here.

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      How do I get added to the company’s email distribution list?

      You can sign up for Party City’s Email Alerts by clicking here.

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      Where can I get information about franchise opportunities?

      Party City is not currently offering any franchise opportunities. However if you are interested in opening an independent party retail store, you may order products directly from our wholesale customer site at www.amscan.com.

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      Gerald C. Rittenberg , , , Director and Non-Executive Chairman

      Gerald C. Rittenberg became our Non-Executive Chairman in April 2017 and prior to this, he served as the Executive Chairman since January 2014. From 1997 until January 2014, Mr. Rittenberg served as our Chief Executive Officer. From May 1997 until December 1997, Mr. Rittenberg served as acting Chairman of the Board. From October 1996 until May 1997, Mr. Rittenberg served as our President.

      James M. Harrison , , , Director and Chief Executive Officer

      James M. Harrison became our Chief Executive Officer in January 2014. Mr. Harrison served as our President from December 1997 until January 2015. From March 2002 to July 2012, Mr. Harrison served as our Chief Operating Officer. From February 1997 to March 2002, Mr. Harrison also served as our Chief Financial Officer and Treasurer. From February 1997 to December 1997, Mr. Harrison served as our Secretary.

      Todd M. Abbrecht , , , Director

      Todd M. Abbrecht has been a member of our Board since July 2012. Mr. Abbrecht is a Managing Director at THL. Prior to joining THL in 1992, Mr. Abbrecht was in the Mergers and Acquisitions department of Credit Suisse First Boston. Mr. Abbrecht is currently a director of Aramark Holdings Corporation, CSafe Global, Curo Health Services, Inc., Fogo de Chão, Healthcare Staffing Services, Intermedix Corporation, inVentiv Health, Inc., PCI Pharma Services and Professional Physical Therapy (ProPT. His prior directorships include Warner Chilcott plc and Dunkin’ Brands Group, Inc. Mr. Abbrecht holds a B.S.E. in Finance from the Wharton School of the University of Pennsylvania and an MBA from Harvard Business School.

      Jefferson M. Case , , , Director

      Jefferson M. Case has been a member of our Board since July 2012. Mr. Case is a Managing Director at Advent. Mr. Case originally joined Advent in 2001. He left the company in 2004 and attended Harvard Business School, before rejoining Advent in 2006. Prior to joining Advent, Mr. Case worked at Bowles Hollowell Conner / First Union, a leading middle-market M&A investment bank, and in the corporate development group of Danaher Corp. Mr. Case currently serves on the board of directors of International Coffee & Tea, LLC, Noosa Yoghurt, LLC, Serta Simmons Bedding, LLC and Sovos Brands Super Holdings, Inc. and has served on the board of directors of Hudson Group. He holds a B.A. in economics from Davidson College and an MBA from Harvard Business School.

      Steven J. Collins , , , Director

      Steven J. Collins has been a member of our Board since August 2008. Mr. Collins is a Managing Director at Advent International. Mr. Collins joined Advent in 1995 and rejoined after graduate school in 2000. Mr. Collins is a member of the board of directors of Bojangles’, Kirkland's, and lululemon athletica, all which are publicly traded, and privately-held retailer Charlotte Russe. He was a member of the board of specialty retailer Five Below from 2010 to 2015. He holds a BA and BS from the University of Pennsylvania and The Wharton School, and an MBA from Harvard Business School.

      Uttam K. Jain , , , Director

      Uttam K. Jain has been a member of our Board since July 2012. Mr. Jain is a Director at THL. Prior to joining THL in 2011, Mr. Jain worked at Riverside Partners and The Boston Consulting Group. Mr. Jain is currently a director of Curo Health Services, Inc. and Professional Physical Therapy (ProPT). Mr. Jain holds a B.Tech. in Chemical Engineering from the Indian Institute of Technology, Bombay, where he was the recipient of the Institute Silver Medal, an M.S. in Chemical Engineering Practice from Massachusetts Institute of Technology and a MBA, with Honors, from the Wharton School of the University of Pennsylvania.

      Norman S. Matthews , , , Director

      Norman S. Matthews has been a member of our Board since May 2013. Mr. Matthews has worked as an independent consultant and venture capitalist since 1989. From 1978 to 1988, Mr. Matthews served in various senior management positions for Federated Department Stores, Inc., including President from 1987 to 1988. Mr. Matthews currently serves on the Board of Directors of Henry Schein, Inc., Duff & Phelps Corp., Spectrum Brands, Inc. (as Chairman of its nominating and governance committee) and as Chairman of the Board of The Children’s Place Retail Stores, Inc. Mr. Matthews is director emeritus of Sunoco, Inc., Toys ‘R’ Us, Inc. and Federated Department Stores, Inc. and a trustee emeritus at the American Museum of Natural History. During the past five years, Mr. Matthews served on the board of directors of Finlay Fine Jewelry Corporation, Finlay Enterprises, Inc. and The Progressive Corporation. In 2005, Mr. Matthews was named as one of eight outstanding directors by the Outstanding Directors Exchange (an annual award voted on by peer directors and awarded to an outstanding director for the key role he played during a crisis, business transformation or turnaround). Mr. Matthews’ extensive experience in strategic marketing and sales with over 30 years of experience as a senior business leader in marketing and merchandising at large public companies and his valuable expertise in compensation programs and strategy led to the conclusion that he should serve as a director of our Company.

      Joshua M. Nelson , , , Director

      Joshua M. Nelson has been a member of our Board since July 2012. Mr. Nelson is a Managing Director at THL. Prior to joining THL in 2003, Mr. Nelson worked at JPMorgan Partners, the private equity affiliate of JPMorgan Chase. Mr. Nelson also worked at McKinsey & Co. and The Beacon Group, LLC. Mr. Nelson is currently a director of Advanced BioEnergy, LLC, CSafe Global, Curo Health Services, Inc., Healthcare Staffing Services, Intermedix Corporation, inVentiv Health, Inc., Professional Physical Therapy (ProPT) and Hawkeye Energy Holdings, LLC. His prior directorships include 1-800 Contacts. Mr. Nelson holds an A.B., summa cum laude, in Politics from Princeton University and an MBA with Honors from Harvard Business School.

      Morry J. Weiss , , , Director

      Morry Weiss has been a member of our Board since June 2015. Mr. Weiss is the Chairman of American Greetings Corporation and has worked there for nearly 50 years, serving in positions that also include President, Chief Executive Officer, and Chief Operating Officer. He also serves on the Board of Directors of Cleveland Clinic. Mr. Weiss served as a director of National City Corporation (a publicly-held financial holding company) from 1991 until its sale in 2008. Mr. Weiss attended Wayne State University and earned a Bachelor of Arts degree in Liberal Arts from Case Western Reserve University.

      Lisa K. Klinger , , , Director

      Lisa K. Klinger has been a member of our Board since June 2015. Ms. Klinger is the Chief Administrative and Financial Officer for Peloton Interactive, Inc. Ms. Klinger also served as Chief Financial Officer and Treasurer for Vince Holding Corp. from December 2012 through June 2015 and Chief Financial Officer and Treasurer of Kellwood Holding Corp. from December 2012 until November 2013, prior to the Vince Holding Corp. initial public offering and related restructuring transactions. Previously, Ms. Klinger served as Executive Vice President and Chief Financial Officer of The Fresh Market, Inc., a specialty food retailer, from 2009 until 2012. Prior to that, Ms. Klinger served as interim Chief Financial Officer of Michael’s Stores during 2008 and Senior Vice President of Finance and Treasurer from 2005 to 2009. Ms. Klinger previously served as Assistant Treasurer at Limited Brands from 2000 to 2005. She holds a B.S.B.A. from Bowling Green State University.

      William S. Creekmuir , , , Director

      William S. Creekmuir has been a member of our Board since March 2016. Mr. Creekmuir is the owner and President of Pinnacle Search Partners LLC (“Pinnacle”), an executive search firm, and has served in that capacity since December 2015. Mr. Creekmuir served as an Executive Search Consultant of Pinnacle from January 2015 to November 2015. Since October 2011, Mr. Creekmuir has also served as an independent consultant, including with respect to Pinnacle and as the interim Chief Financial Officer of Sleep Innovations, Inc. from October 2013 until April 2014. Prior to his time as an independent consultant, Mr. Creekmuir served as Executive Vice President and Chief Financial Officer of Simmons Bedding Company from 2000 to 2011 and LADD Furniture, Inc. from 1992 to 2000. Prior to joining LADD Furniture, Inc., Mr. Creekmuir was a partner at KPMG LLP. He also serves on the boards of several for-profit and not-for-profit entities. He holds a BS in business administration from the University of North Carolina at Chapel Hill and he is a certified public accountant.

      Gerald C. Rittenberg , , , Director and Executive Chairman

      Gerald C. Rittenberg became our Executive Chairman in January 2014. From 1997 until January 2014, Mr. Rittenberg served as our Chief Executive Officer. From May 1997 until December 1997, Mr. Rittenberg served as acting Chairman of the Board. From October 1996 until May 1997, Mr. Rittenberg served as our President.

      James M. Harrison , , , Director and Chief Executive Officer

      James M. Harrison became our Chief Executive Officer in January 2014. Mr. Harrison served as our President from December 1997 until January 2015. From March 2002 to July 2012, Mr. Harrison served as our Chief Operating Officer. From February 1997 to March 2002, Mr. Harrison also served as our Chief Financial Officer and Treasurer. From February 1997 to December 1997, Mr. Harrison served as our Secretary.

      Daniel J. Sullivan , , , Chief Financial Officer

      Daniel J. Sullivan became our Chief Financial Officer in August 2016. Prior to joining the company, Mr. Sullivan held several senior finance positions with Ahold USA including, most recently, EVP-Finance and CFO and was a member of their Executive Board. Prior to joining Ahold in 2010, Mr. Sullivan spent twelve years at Heineken in executive finance positions both in the United States and Europe, and served as CFO, COO & SVP Strategy for Heineken USA. Earlier in his career in the late 1990s Mr. Sullivan was a controller for Amscan Inc., the US wholesale division of PCHI, and prior to that he was with KPMG.

      Michael A. Correale , , , Chief Accounting Officer

      Michael A. Correale became our Chief Accounting Officer in August 2016. Prior to that time, Mr. Correale served as our Chief Financial Officer from March 2002 to August 2016 and our Vice President—Finance, from May 1997 to March 2002. Prior to joining the company, Mr. Correale was the Director of Financial Reporting for Ultramar Corporation and also worked for Ernst & Young.

      Gregg A. Melnick , , , President

      Gregg A. Melnick became our President in January 2015 and became President of Party City Holdings Inc. in October 2014. From March 2011 to September 2014, Mr. Melnick was President of the Party City Retail Group. From May 2010 to February 2011, Mr. Melnick was President of Party City Corporation. Previously, he was Chief Operating Officer from October 2007 to April 2010 and Chief Financial Officer from September 2004 to September 2007 of Party City Corporation.

      Ryan T. Vero , , , President – Retail

      Mr. Vero became the President of our Retail division in October 2016. Prior to joining our Company, Mr. Vero served as Senior Vice President and President of Grocery & Drugstore at Sears Holdings Corporation, beginning in November 2012. Before his tenure at Sears, Mr. Vero spent 18 years with OfficeMax Incorporated, most recently serving as Chief Merchandising & Marketing Officer and Executive Vice President.

      Audit Committee Corporate Governance Committee Compensation Committee
      Norman S. Matthews
      Todd M. Abbrecht

      Joshua M. Nelson

      William S. Creekmuir
      Lisa K. Klinger
      Morry J. Weiss
        =   Committee Member   =   Committee Chair

      Party City is committed to ensuring that the views of stockholders and other interested parties are heard by the board of directors or individual directors, as applicable, and that appropriate responses are provided to stockholders in a timely manner. Stockholders and other interested parties may communicate with any of the directors by sending a letter to the director, c/o Secretary, Party City Holdco Inc., 80 Grasslands Road, Elmsford, New York 10523. All such letters will be promptly forwarded to the respective director by the Secretary.

      In addition to regular meetings of the board of directors, Party City’s non-management directors meet in executive sessions without management participation. The board of directors has not formally selected a director to preside over the executive sessions of the non-management directors. Instead, at each executive session, the non-management directors designate a presiding director for the session.