US: Party City mulling bankruptcy declaration - How has the retailer been doing?
Party City is reportedly planning to file for bankruptcy, months after its Halloween-time sales were said to be at the “lower end of expectations.” The report states that the American retail chain is talking with a restructuring advisor and is looking to convert its debt into equity. Press reports suggest that the company is also expected to miss a coupon payment due in February 2023.
Plagued by supply-chain issues, costly shipping and other inflation-fueled problems, how has Party City fared in the recent past?
According to YouGov BrandIndex - which tracks consumer sentiment towards thousands of brands daily - the company’s Satisfaction scores have dipped in recent months. Satisfaction scores - which measure whether customers are satisfied or dissatisfied with the brand - have dipped three points from a net score of 9 on 9 January 2022 to 6 on 7 January 2023.
Its Index score - which is an overall measure of brand health, made up of General Impression, Customer Satisfaction, Quality, Value, Corporate Reputation and Recommendation - remained mostly unchanged through the observation period. The same goes for Party City’s Value metric - which measures whether the brand represents poor or good value for peoples’ money - which was flat.
The brand’s Current Customer score hasn't seen much movement either, inching up by just a percentage point from January 2022 to January 2023.
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Methodology: YouGov BrandIndex collects data on thousands of brands every day. Party City’s Index score is an overall measure of brand health, made up of General Impression, Customer Satisfaction, Quality, Value, Corporate Reputation and Recommendation and delivered as a net score between -100 and +100. It’s Satisfaction score is based on the question: Of which of the following stores would you say that you are a satisfied customer or a dissatisfied customer? and delivered as a net score between -100 and +100. It’s Value score is based on the question: Which of the following stores do you think represents good value/poor value for money? and delivered as a net score between -100 and +100. It’s Current Customer score is based on the question: Have you purchased goods from any of the following stores in the past 3 months? and delivered as a percentage. Scores are based on an average daily sample size of 2442 US adults between 9 January 2022 and 7 January 2023. Figures are based on a four-week moving average. Learn more about BrandIndex.
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