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Halloween 2017: Party City Set To Benefit From What Might Be A Record Year In Spooky Specialty Spending

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Halloween 2017: Party City Set To Benefit From What Might Be A Record Year In Spooky Specialty Spending
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Investors may want to take a second look at Party City Holdco Inc (NYSE: PRTY) ahead of the Halloween season.

A total of 179 million Americans are expected to take part in some sort of Halloween related festivity this year, which marks an increase from 171 million last year, the National Retail Federation found in a survey. Consumers are also projected to spend $9.1 billion this year on their holiday festivities, which also marks an increase from $8.4 billion last year.

Party City, the parent company of Party City and Halloween City stores, will likely be a big beneficiary of the trend since it sells all of the necessary goods needed to enjoy Halloween. In fact, the NRF's survey found that 38 percent of consumers will visit a specialty retailer although 47 percent of those surveyed did indicate they will be shopping at a discount store.

"Halloween continues to be a highly anticipated holiday for Americans, who will spend a record amount this year with increases across all purchasing categories," Pam Goodfellow, an analyst with Prosper Insights told CNBC. "Expect consumers to be on the lookout for early-bird promotions both online and in-store as they hunt for the best items to complete their costumes and embellish their homes."

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Posted-In: CNBC Discount RetailersNews Previews Events Media Trading Ideas General Best of Benzinga

 

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