iParty Corp. Reports Increased Sales in October 2008
07 November 2008 - 12:30AM
PR Newswire (US)
DEDHAM, Mass., Nov. 6 /PRNewswire-FirstCall/ -- iParty Corp.
(AMEX:IPT), a party goods retailer that operates 50 iParty retail
stores, today reported sales results for the calendar month and
year, and for the fiscal month and year, ended October, 2008.
iParty is reporting its October sales results to provide investors
with information regarding the Halloween season, which is its
single most important selling season. For the thirty-one day
calendar month of October, sales at comparable stores increased
0.6% compared to the same period in 2007. Total company sales were
approximately $17.48 million, a 3.4% increase compared to $16.91
million for the same period in 2007. For the five week fiscal month
of October, which ended on November 1st, sales at comparable stores
increased 1.1% compared to fiscal October 2007. Total company sales
increased by 3.9% for the fiscal month compared to the same period
in 2007. The increase in total company sales for the calendar and
fiscal months of October included the impact of two stores opened
and two stores closed in January 2008, as well as the impact of two
temporary Halloween stores opened in mid-September 2008. For the
calendar year 2008 through October, sales at comparable stores
decreased 1.4% compared to the same period in 2007. Total company
sales were approximately $71.20 million, a 0.5% increase compared
to $70.87 million for the same period in 2007. For the forty-four
week period through fiscal October, which ended on November 1st,
sales at comparable stores decreased 1.1% compared to the same
period in 2007. Total company sales increased by 0.7% for the
fiscal year-to-date period compared to the same period in 2007. The
increase in total company sales for the calendar and fiscal
year-to-date periods through October included the impact of two
stores opened and two stores closed in January 2008, as well as the
impact of two temporary Halloween stores opened in mid-September
2008. Sal Perisano, Chairman and Chief Executive Officer of iParty
Corp., commented, "In a difficult retail environment we are pleased
to have realized a modest increase in sales for the most important
month in our fiscal year. We were very satisfied with the
performance of our two temporary stores, which we branded "iParty
Halloween," and currently plan to open more of them next year. We
are also happy with the sales in our two recently acquired Rhode
Island stores. Despite the challenging economy, we view our October
sales results as evidence that consumers are looking for
inexpensive ways to celebrate occasions and have fun. We believe
that this may ultimately soften the impact on our business of the
predicted recession in the U.S. economy." About iParty Corp.
Headquartered in Dedham, Massachusetts, iParty Corp.
(AMEX:IPTAMEX:-AMEX:news) is a party goods retailer that operates
50 iParty retail stores and licenses the operation of an Internet
site for party goods and party planning at http://www.iparty.com/.
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 http://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; the successful implementation of our growth and marketing
strategies; our ability 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; our inventory management system; and the
availability of retail store space on reasonable lease terms. 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 29, 2007 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. DATASOURCE: iParty Corp. CONTACT: David Robertson of
iParty Corp., +1-781-355-3770, Web Site: http://www.iparty.com/
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