IParty Corp. Reports Sales For Calendar Month October 2010
iParty Corp. (NYSE Amex: IPT - news), a party goods retailer, today reported total company sales of $19.8 million for the calendar month of October, 2010, an increase of 7.2% over total company sales in calendar October 2009. Sal Perisano, Chairman and Chief Executive Officer of iParty Corp., commented “Building on a strategy we began in 2008, we increased the number of our temporary Halloween stores from four in 2009 to eleven in 2010. Our temporary stores helped us achieve a significant increase in total sales in our markets for the calendar month of October, the most important month of our year.”
For the thirty-one day calendar month of October 2010, total company sales were $19.8 million, compared to $18.4 million for the same period in 2009. Sales at comparable stores for the calendar month decreased 1.0% compared to the same period in 2009. Mr. Perisano continued “We believe that the sales in our temporary stores, which were mainly located in our core Boston market, affected sales in stores open at least one year, contributing to the modest decrease we saw in sales from those stores. However, we were pleased that our strategy of increasing our temporary store presence enabled us to achieve higher total market sales.”
For the five week fiscal month of October, which did not include October 31 st and ended on October 30 th, total sales increased by 4.7% compared to the same fiscal month period in 2009. Sales at comparable stores decreased 3.0% for the October fiscal month compared to the fiscal month of October 2009.
For the calendar year 2010 through October, total company sales were $71.0 million, a 3.6% increase compared to the same period in 2009. Sales at comparable stores for this period increased 0.6% compared to the same period in 2009. For the forty-four week period through fiscal October 2010, which ended on October 30 th, total company sales increased by 3.1%, and sales at comparable stores increased 0.2% compared to the same period in 2009.Mr. Perisano further stated “We view our performance in the critical month of October as more evidence that our customers regard us as their go-to destination for parties, milestones and seasonal events such as Halloween. Going forward, we plan to open additional permanent stores and temporary Halloween stores in 2011, building on the core strength of our base of existing stores.”
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