Party City Sees Rev Declines in 2023, Driven by Macro Outlook

Party City said it sees revenue declines 2023, driven by anticipated declining macro economic outlook, according to a slide presentation after it filed for Chapter 11 bankruptcy in Texas.

• Sees 2023 total revenue $2,072 million, 2024 $2,199 million
• Sees 2023 total gross capital expenditure $58.1 million, 2024 $106.5 million
• Cost optimization work to deliver $26 million to $33 million in savings
• Overall expenses in 2023 $22M lower than 2022

NOTE

• Party City Holdco Inc. rose 10.2% in premarket trading to 41c as of 6:30 a.m. New York time before trading was halted

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