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Party City Stock Pops on Amazon Deal

Party City (NYSE:PRTY) stock was up Thursday on news of a deal with Amazon (NASDAQ:AMZN).

Party City Stock Pops on Amazon Deal
Source: Shutterstock

This deal allows Party City to sell its products via Amazon through an upcoming pilot program. This pilot program will start ahead of Halloween 2018 and will include a special assortment of items for sale through the online retailer.

Party City notes that the majority of the items that it will be selling on Amazon through the pilot program will be costumes. While this is only a pilot program, the company says that it is already planning to expand it later this year.

When Party City expands its pilot program through Amazon, it will start offering different types of products. These different products will match upcoming holidays. This includes Christmas and New Year 2019 goods.

Party City CEO James Harrison has this to say about the pilot program.

“The Amazon pilot we are launching will complement PartyCity.com’s category leading capabilities and serve to advance our overarching strategy of having Party City products available to consumers wherever they choose to shop. As a vertical retailer, the program also creates an additional channel of distribution that allows us to leverage our dynamic manufacturing and distribution capabilities while attracting new customers to the Party City brand, including Millennials, who have shown a propensity to shop across online channels.”

Party City has been looking to expand its business in different ways lately. One of these efforts include plans to open 50 pop-up stores around the U.S. later this year. These stores will carry toys and will show up for the holiday shopping season.

PRTY stock was up 3% as of Thursday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/08/party-city-stock-pops-on-amazon-deal/.

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