Iparty (AMEX:IPT)
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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.