Michaels ups balloons, party supplies as Party City, Joann disappear [Yahoo! Finance]
Walmart Inc. (WMT)
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Source: Yahoo! Finance
With Party City practically gone from the U.S. retail landscape, Michaels is adding to its assortment of balloons and other party supplies, the crafts retailer said Tuesday. Michaels is also expanding in-store events for children and adults, including birthday celebrations, private events and crafting activities. The company launched party services last year as part of an effort to enhance its in-store experience At the end of last year, Party City filed for its second bankruptcy in less than two years and said it would close all of its nearly 700 stores. Its IP and wholesale operations were acquired earlier this year , and the retailer still runs about 30 stores Michaels has a few opportunities to grab market share from disappearing retailers. Chief Merchandising Officer Stacey Shively in a statement went so far as to call Michaels “the destination for creating and celebrating in communities across North America.” The crafts retailer came close to swallowing Party City's sha
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