iParty Corp. Reports Sales for Calendar Month October 2010
November 03 2010 - 9:00AM
Business Wire
iParty Corp. (NYSE Amex: IPT - news), a party goods retailer,
today reported total company sales of $19.8 million for the
calendar month of October, 2010, an increase of 7.2% over total
company sales in calendar October 2009. Sal Perisano, Chairman and
Chief Executive Officer of iParty Corp., commented “Building on a
strategy we began in 2008, we increased the number of our temporary
Halloween stores from four in 2009 to eleven in 2010. Our temporary
stores helped us achieve a significant increase in total sales in
our markets for the calendar month of October, the most important
month of our year.”
For the thirty-one day calendar month of October 2010, total
company sales were $19.8 million, compared to $18.4 million for the
same period in 2009. Sales at comparable stores for the calendar
month decreased 1.0% compared to the same period in 2009. Mr.
Perisano continued “We believe that the sales in our temporary
stores, which were mainly located in our core Boston market,
affected sales in stores open at least one year, contributing to
the modest decrease we saw in sales from those stores. However, we
were pleased that our strategy of increasing our temporary store
presence enabled us to achieve higher total market sales.”
For the five week fiscal month of October, which did not include
October 31st and ended on October 30th, total sales increased by
4.7% compared to the same fiscal month period in 2009. Sales at
comparable stores decreased 3.0% for the October fiscal month
compared to the fiscal month of October 2009.
For the calendar year 2010 through October, total company sales
were $71.0 million, a 3.6% increase compared to the same period in
2009. Sales at comparable stores for this period increased 0.6%
compared to the same period in 2009. For the forty-four week period
through fiscal October 2010, which ended on October 30th, total
company sales increased by 3.1%, and sales at comparable stores
increased 0.2% compared to the same period in 2009.
Mr. Perisano further stated “We view our performance in the
critical month of October as more evidence that our customers
regard us as their go-to destination for parties, milestones and
seasonal events such as Halloween. Going forward, we plan to open
additional permanent stores and temporary Halloween stores in 2011,
building on the core strength of our base of existing stores.”
About iParty Corp.
Headquartered in Dedham, Massachusetts, iParty Corp. is a party
goods retailer that operates 51 iParty retail stores. iParty's aim
is to make throwing a successful event both stress-free and fun.
With over 20,000 party supplies and costumes and an online party
magazine and party-related content, iParty offers consumers a
sophisticated, yet fun and easy-to-use, resource with an extensive
assortment of products to customize any party, including birthday
bashes, Easter get-togethers, graduation parties, summer barbecues,
and, of course, Halloween. iParty aims to offer reliable,
time-tested knowledge of party-perfect trends, and superior
customer service to ensure convenient and comprehensive merchandise
selections for every occasion. Please visit our site at
www.iparty.com.
Safe harbor statement under the Private Securities Litigation
Reform Act of 1995
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
as contained in Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You can
identify these statements by the fact that they use words such as
"anticipate," "believe," "estimate," "expect," "intend," "project,"
"plan," "outlook," and other words and terms of similar meaning.
These statements involve a number of risks and uncertainties that
could cause actual results to differ materially from the potential
results discussed in the forward-looking statements. Among the
factors that could cause actual results and outcomes to differ
materially from those contained in such forward-looking statements
are the following: changes in consumer confidence and consumer
spending patterns, particularly those impacting the New England
region and Florida, which may result from, among other factors,
rising or sustained high levels of unemployment, access to consumer
credit, mortgage foreclosures, credit market turmoil, declines in
the stock market, general feelings and expectations about the
overall economy, and unseasonable weather; the successful
implementation of our growth and marketing strategies; our ability
to access our existing credit line or to obtain additional
financing, if required, on acceptable terms and conditions; rising
commodity prices, especially oil and gas prices; our relationships
with our third party suppliers; the failure of our inventory
management system and our point of sale system; competition from
other party supply stores and stores that merchandise and market
party supplies, including big discount retailers, dollar store
chains, and temporary Halloween merchandisers; the availability of
retail store space on reasonable lease terms; and compliance with
evolving federal securities, accounting, and stock exchange rules
and regulations applicable to publicly-traded companies listed on
the NYSE Amex. For a more detailed discussion of risks and
uncertainties which could cause actual results to differ from those
contained in the forward-looking statements, see Item 1A, "Risk
Factors" of iParty's most recently filed Annual Report on Form 10-K
for the fiscal year ended December 26, 2009 and our other periodic
reports filed with the SEC. iParty is providing this information as
of this date, and does not undertake to update the information
included in this press release, whether as a result of new
information, future events or otherwise.
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