Benzinga | Sep 30, 2021 02:06PM EDT

Why Party City Shares Are Falling

Shares of companies in the broader retail space, including Party City Holdco Inc (NYSE:PRTY) are trading lower in sympathy with Bed Bath & Beyond (NASDAQ:BBBY), which fell following worse-than-expected second-quarter sales and third-quarter guidance below estimates.

Bed Bath & Beyond shares are trading lower after the company reported second-quarter EPS of $0.04, down from $0.50 year over year and worse-than-expected second-quarter sales results. The company also issued third-quarter EPS and sales guidance below estimates.

Party City is a party goods retailer in North America that operates owned and franchised locations in the US, Canada and Puerto Rico.

Party City is trading lower by 12.5% at $7.24. Party City has a 52-week high of $11.06 and a 52-week low of $1.67.