Party America Whoops It Up
The celebration has started at Party America, the party goods chain that reported a gaudy 86 percent increase in sales for the fiscal year ending Jan. 31.
Total sales at the privately held Alameda company came in at more than $160 million. Same-store sales increases were a bit more sedate, though still up a healthy 6.6 percent over the previous fiscal year.
The strong sales increase is attributed to the company’s purchase of the Paper Warehouse chain in the Midwest in 2003, as well as the acquisition of Party Concepts in late 2004. Company officials also reported growth in profit, though they did not offer details.
Purchase of the two stores by parent company PA Acquisition Corp has transformed Party America from a regional retailer in the West to a 290-store chain with a presence in 45 states.
It is now the second-largest such retailer in the nation behind main rival Party City Corp. of Rockaway, N.J., which has nearly double the number of locations.