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Party City logs weak third-quarter retail sales

Party City Holdco Inc. on Thursday reported weak revenue growth for its third quarter, weighed down by soft traffic, and the company lowered a key sales forecast for the year.

For the third quarter, Party City said its retail sales grew 4.1%, driven by more stores and a calendar shift that moved more Halloween shopping days into the quarter.

Chief Executive James M. Harrison described the retail results as "weaker than expected," but pointed to strong Halloween performance.

In addition to its namesake stores, Party City also sells decorations and costumes under the Halloween City banner.

Party City...