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Party City says it is closing 45 stores amid a global helium shortage
Source: USA Today
Party City says it is closing 45 stores amid a global helium shortage
Kelly Tyko, USA TODAY Published 6:39 p.m. ET May 9, 2019 | Updated 10:51 p.m. ET May 9, 2019
Amid a global helium shortage, Party City announced Thursday it will shutter 45 stores in 2019.
The New Jersey-based party supplies company did not release a list of affected stores but said the closures will take place throughout the year.
There are 870 Party City stores in the U.S. and Canada and the closures represent about 5% of locations. Local news outlets have so far reported closings in California, Illinois, Connecticut and Washington.
Party City CEO James Harrison said in a statement Thursday the company typically closes 10 to 15 stores each year.
"This year, after careful consideration and evaluation of our store fleet, we’ve made the decision to close more stores than usual in order to help optimize our market-level performance, focus on the most profitable locations and improve the overall health of our store portfolio,” Harrison said.
-snip-
Kelly Tyko, USA TODAY Published 6:39 p.m. ET May 9, 2019 | Updated 10:51 p.m. ET May 9, 2019
Amid a global helium shortage, Party City announced Thursday it will shutter 45 stores in 2019.
The New Jersey-based party supplies company did not release a list of affected stores but said the closures will take place throughout the year.
There are 870 Party City stores in the U.S. and Canada and the closures represent about 5% of locations. Local news outlets have so far reported closings in California, Illinois, Connecticut and Washington.
Party City CEO James Harrison said in a statement Thursday the company typically closes 10 to 15 stores each year.
"This year, after careful consideration and evaluation of our store fleet, we’ve made the decision to close more stores than usual in order to help optimize our market-level performance, focus on the most profitable locations and improve the overall health of our store portfolio,” Harrison said.
-snip-
Read more: https://www.usatoday.com/story/money/2019/05/09/party-city-store-closings-2019-45-locations-shutter/1157512001/
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