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Why Party City Stock Had a Party Today

TheMotleyFool

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Shares of Party City (NYSE: PRTY) had a party today, up 12% as of 1:45 p.m. EDT, after the company announced that it plans to hire approximately 20,000 temporary workers for the Halloween season. Halloween is the most important time of year for Party City.

Party City will also open around 25 Halloween City pop-up locations ahead of the holiday. The retailer said it expects to keep on 10% of those workers after the Halloween season is over. Halloween will certainly be very different this year due to the COVID-19 pandemic, as distributing candy to groups of trick-or-treaters sounds like a recipe for virus transmission.

Image source: Getty Images.

Source Fool.com

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