Party time at the New York Stock Exchange with Party City

Christina Medici Scolaro
Key Points
  • Party City kicks off the weekend before Halloween by ringing the closing bell at the New York Stock Exchange
  • The retailer hired 25,000 workers and opened 270 pop-up stores to meet demand
  • Shares of Party City are down 18-percent year-to-date
Party City executives get traders in the Halloween spirit at the NYSE

For the third year in a row, Party City executives will ring the closing bell at the New York Stock Exchange on the Friday before Halloween.

At the podium are employees in costume from the product development team, along with chief executive, James Harrison.

Headquartered in Elmsford, New York, Party City is the leading Halloween specialty retailer by revenue in the United States.

Spending for the ghoulish season is at a new high this year. Americans are expected to dole out a record $9.1 billion, with about one-third of it spent on costumes, according to the National Retail Federation. That figure is up from $8.4 billion in 2016.

Seven percent of Party City's retail sales come in the five days leading up to Halloween.

The retailer hired 25,000 temporary employees and opened up more than 270 pop-up stores to prepare for the spending surge.

And in the next five years, the company is expanding with plans to open 300 new stores.

Party City will release third-quarter earnings on Nov. 9. Analysts polled at Thomson Reuters expect strong traffic and momentum for the remainder of the year.

Shares of Party City are down 18-percent year to date. Out of eight analysts that cover the stock, five rate the company a "buy", and three have a "hold" rating on PRTY.