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Temp Stores Drive Amscan Growth

Company to Refinance Loan

GDA Staff -- Gifts and Dec, 11/15/2010 11:44:53 AM

Elmsford, NY - Party retailer Amscan Holdings Inc. released retail sales results for the five-week Halloween season ended November 6. The results include sales under the names of Party City, Halloween City, Factory Card & Party Outlet and The Paper Factory.

Retail sales totaled $310.5 million: that's $53.1 million, or 21 percent, higher than last year's Halloween season. The company attributes the increase to growth of the company's network of temporary Halloween stores and the improved performance of the Party City brand, at brick and mortar and online.

The company operated 404 temporary Halloween stores, compared to 249 in 2009. The number of permanent Party City stores stayed practically flat, while FCPO and outlet stores decreased.

Temporary store sales increased a whoppping 51 percent. Party City stores had a comparable store sales increase of 4 percent. adding FCPO, The Paper Factory and e-commerce sales, Halloween sales increased by 11 percent.

In a separate statement, Amscan also announced that it plans to refinance its existing senior secured term loan credit facility due in 2013 with a new $675 million senior secured term loan credit facility. Proceeds will be used to repay in full all its debts and fund a cash dividend of approximately $310 million.

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