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EXCLUSIVE REPORTS
Party America Whoops It Up
The
celebration has started at Party America, the party goods chain
that reported a gaudy 86 percent increase in sales for the fiscal
year ending Jan. 31.
Total
sales at the privately held Alameda company came in at more than
$160 million. Same-store sales increases were a bit more sedate,
though still up a healthy 6.6 percent over the previous fiscal
year.
The
strong sales increase is attributed to the company's purchase
of the Paper Warehouse chain in the Midwest in 2003, as well
as the acquisition of Party Concepts in late 2004. Company officials
also reported growth in profit, though they did not offer details.
Purchase
of the two stores by parent company PA Acquisition Corp has transformed
Party America from a regional retailer in the West to a 290-store
chain with a presence in 45 states.
It
is now the second-largest such retailer in the nation behind
main rival Party City Corp. of Rockaway, N.J., which has nearly
double the number of locations.
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