Nov 05, 2020 (Financial News Media via COMTEX) -- Palm Beach, FL - November 5, 2020 – Even during the pandemic, life goes on... parties and family (and business) gatherings, virtual and in-person continue. Life finds a way! There are large number of parties and festivals being celebrated every day at many places around the globe and balloons plays a major part in the decoration of the place. Balloons are majorly used as a tool to catch attention or add beauty to a particular place. Brands use balloons for advertising themselves are they come in various shapes, sizes, and colors to catch attention of the people around. Balloons are used for decorations on various occasions like parties, whether kids or adults, festivals to add beauty to the environment and make the surroundings look pleasant. Foil balloons are a type of balloon that has been preferred over the latex balloons in recent times. They offer a great variety in size, shape, color and their attractive prints. They ensure longer life of the air filled in the balloon compared to the others. A recent report from Transparency Market Research said that the party balloon market is anticipated to reach $2.4 Billion mark by 2030 and is estimated to progress at a CAGR of about 5% during the forecast period. Active Companies in the industry include 1-800-FLOWERS.COM, Inc. /zigman2/quotes/204552624/composite FLWS +7.25% , Yunhong CTI Ltd. (NASDAQ: CTIB ), Dollar Tree, Inc. /zigman2/quotes/203712248/composite DLTR +2.13% , Walmart Inc. /zigman2/quotes/207374728/composite WMT +1.18% , Party City Holdco Inc. /zigman2/quotes/209141609/composite PRTY +1.03% .
The report said: "Birthday parties are getting a makeover amid the coronavirus (COVID-19) pandemic. Though it is challenging to stay cheerful amidst the lockdown period, individuals are taking to video conferencing apps to celebrate their birthdays. Homemakers are transforming their living rooms into fairytale-themed parties with the help of toys, Barbie props, and party balloons to cheer their children. Thematic virtual video call parties are becoming increasingly commonplace for individuals amidst the coronavirus outbreak, which has helped in the growth of the party balloon market. Family and friends are dedicating personalized birthday songs through video conferencing and using party props such as balloons, tiaras, and paper garlands to enhance their party themes. Since most restaurants and pubs are shut down amidst the ongoing COVID-19 era, individuals are buying balloons and other cost-efficient party decor to enhance their video conferencing party appeal. Hence, companies in the party balloon market are increasing their production capacities to meet customer demands."
Yunhong CTI Ltd. (NASDAQ: CTIB ) BREAKING NEWS: Yunhong CTI Ltd. Announces Production Capacity Expansion at its Lake Barrington, Illinois Facility to Meet Increased Customer Demand – Yunhong CTI Ltd. (NASDAQ: CTIB ) ("Yunhong CTI" or the “Company”), a leading manufacturer of custom film products, foil and latex novelty balloons, and flexible packaging products, announced that due to increased customer demand it has installed additional production equipment at its Lake Barrington, Illinois, facility that is expected to increase the company’s annual North American production capacity of foil novelty balloons by more than 14%. Lake Barrington has been a key facility for Yunhong CTI's U.S. product manufacturing for most of the company's history. The Company has added the additional production equipment to meet growing market demand for its foil novelty balloons and to serve existing customers.
"With the first of two new production machines being fully operational, we have taken a major step forward in meeting our growing customer demand. This machine is a great addition, as it integrates modifications to increase our quality output which will allow us to continue to successfully service our customer base.," said Jana M. Schwan, Chief Operating Officer of Yunhong CTI.
Lake Barrington was selected as the site of the expansion due to a combination of efficiency and cost-effectiveness, supported by the availability of existing high-quality manufacturing space and the strong pool of local talent. Installation of the equipment has been completed. For more information about The CTIB, please visit https://ctiindustries.com/
Other recent developments in the markets include:
1-800-FLOWERS.COM, Inc. /zigman2/quotes/204552624/composite FLWS +7.25% , a leading e-commerce provider of products and services designed to inspire more human expression, connection and celebration, recently reported results for its Fiscal 2021 first quarter ended September 27, 2020.
Chris McCann, CEO of 1-800-FLOWERS.COM, Inc., said “The strong results that we achieved in our fiscal first quarter reflects a continuation of the accelerated customer demand and customer file growth that we saw throughout last year. We have been building on this momentum by leveraging our unique business platform, including our all-star collection of brands, our advanced technology stack and our manufacturing, distribution and logistics capabilities. As a result, we have become our customers' go-to resource to help them connect and express themselves - sentiments that have grown increasingly important.”
Dollar Tree, Inc. /zigman2/quotes/203712248/composite DLTR +2.13% recently announced a plan to hire more than 25,000 associates for its Dollar Tree and Family Dollar stores and the Company's U.S. distribution centers during the fifth annual Nationwide Hiring Event.
“Dollar Tree and Family Dollar are excited to bring aboard motivated individuals as we provide our customers with great values this holiday season in convenient, easy-to-shop locations,” stated Betty Click, Chief Human Resources Officer. “As a growth company with two distinguished brands and more than 15,000 stores and 26 U.S. distribution centers, now is a great time to join our teams. Whether you are just starting your career, looking for a new opportunity, or interested in earning extra money for the holidays, we offer a broad range of open positions to fit your needs and availability.”
Walmart Inc. /zigman2/quotes/207374728/composite WMT +1.18% Sam’s Club recently announced it is partnering with DoorDash to offer same-day pharmaceutical delivery across the country. This first-of-its-kind pharmaceutical delivery experience from DoorDash covers more than 500 Sam’s Club locations across 41 states in the U.S., and is powered exclusively through Drive, DoorDash’s white-label fulfillment platform that powers direct delivery for business partners. Sam’s Club announced it is partnering with DoorDash to offer same-day pharmaceutical delivery across the country.
Sam’s Club members can receive free delivery on their first two pharmacy orders until Jan. 31, 2022. After this promotion is utilized or expires, delivery will carry a flat fee of $7.99 for all patients. To experience the new service, patients can call their local Sam’s Club Pharmacies and speak to a Sam’s Club Pharmacist to schedule delivery. Through the DoorDash Drive integration, Dashers will fulfill eligible pharmacy order deliveries from Sam’s Club. Sam’s Club is taking steps to make Rx delivery options available in the Sam’s Club app in the first half of 2021.
Party City Holdco Inc. /zigman2/quotes/209141609/composite PRTY +1.03% recently announced that its third quarter 2020 financial results will be released prior to market open on Monday, November 9, 2020. The Company will host a conference call at 8:00 a.m. Eastern Time on that day to discuss the detailed financial results.
In addition, Management will briefly discuss Anagram Holdings, LLC's third quarter 2020 financials on the Party City earnings call at 8:00 a.m. Eastern Time on November 9, 2020. Debtholders interested in obtaining access to Anagram Holdings, LLC's third quarter 2020 financials should email InvestorRelations@partycity.com to request a password to view the Anagram Holdings, LLC financial statements available online at investor.partycity.com.
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