iParty Corp. Reports October 2005 Sales Results
November 04 2005 - 8:00AM
Business Wire
iParty Corp. (AMEX: IPT), a party goods retailer that operates 50
iParty retail stores, today reported sales results for the
thirty-one day calendar month of October ended October 31, 2005.
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, consolidated revenues were approximately $16.3
million, a 9.2% increase compared to $14.9 million for the same
period in 2004. The increase in the thirty-one day calendar month
compared to the same period last year was due to sales from seven
new stores that opened since the end of calendar October of 2004.
This increase was offset by a 1.1% decrease in comparable store
sales, defined as sales from stores open at least one full year.
Sal Perisano, Chief Executive Officer of iParty Corp., commented,
"Our overall sales increase was particularly encouraging insofar as
it underscores the importance of our growth strategy and our recent
store expansion efforts. However, we are disappointed by the one
percent decrease in comp store sales. We believe that the weakness
in our comp stores was primarily related to the heavy rain in
October in the New England area and as well as the effect of
Hurricane Wilma in Florida where we operate five stores. Despite
the shortfall in same store sales, we were very pleased with our
company's overall execution, Halloween advertising campaign and
sell through of Halloween inventory." About iParty Corp.
Headquartered in Dedham, Massachusetts, iParty Corp. (AMEX: IPT) 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 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 offers 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 release contains forward-looking statements that are
based on our current expectations, beliefs, assumptions, estimates,
forecasts and projections, including those about future store
openings, future expectations of profitability and the industry and
markets in which iParty operates. The statements contained in this
release are not guarantees of future performance and involve
certain risks, uncertainties and assumptions that are difficult to
predict. Therefore, actual outcomes and results may differ
materially from what is expressed in such forward-looking
statements, and such statements should not be relied upon as
representing iParty's expectations or beliefs as of any date
subsequent to the date of this press release. Important factors
that may affect future operating results include the effects of
adverse changes in overall economic conditions, the success or
failure of iParty's efforts to implement its business strategy; the
success or failure of iParty's marketing initiatives and its
efforts to build the iParty brand; iParty's inability to obtain
additional financing, if required; third-party suppliers' failure
to fulfill their obligations to iParty; unseasonable weather,
particularly in the New England region; intense competition from
other party supply stores and stores that merchandise and market
party supplies, including big discount retailers, dollar store
chains and temporary Halloween stores; the availability of retail
store space on reasonable lease terms; the failure of iParty's
systems or those of its third-party suppliers; general economic and
other developments affecting consumer confidence or spending
patterns, particularly in the New England region; compliance with
evolving federal securities, accounting, and stock exchange rules
and regulations applicable to publicly-traded companies listed on
the American Stock Exchange; and government regulation of the
Internet. For a discussion of these and other risks and
uncertainties which could cause actual results to differ from those
contained in the forward-looking statements, see "Cautionary
Statements and Risk Factors" in iParty's most recently filed Annual
Report on Form 10-K and "Factors That May Affect Future Results" in
iParty's most recently filed Quarterly Report on Form 10-Q.
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