Party City plans to close 45 of its 870 stores in 2019, the company said Thursday. The party supplies company also said it has secured a new source of helium that should help relieve pressure from a global helium shortage that has squeezed balloon sales.
Party City made the announcements as it reported first-quarter revenue growth of 1% to $513 million and retail sales growth of 4%.
The company typically closes about 10 to 15 stores annually, but it will close a higher number of stores this year so it can better focus on its most profitable locations.
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