{
  "id": 16303381,
  "title": "‘There’s nothing temporary about a temporary store’: How Spirit Halloween’s CEO took it from 130 stores to 1,550—and swallowed your mall’s Hot Topic",
  "url": "https://urgent.news/2026/10/24/theres-nothing-temporary-about-a-temporary-store-how-spirit",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-24T08:00:00.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/24/spirit-halloween-spencers-hot-topic-steven-silverstein-temporary-store-costumes/"
  },
  "original_language": "en",
  "account": "Steven Silverstein, CEO of Spirit Halloween, aims to turn his temporary store chain into a permanent fixture in North American retail. Every year after Halloween, Spirit's stores close up shop, but Silverstein sees it as a 24/7, 365-day Halloween experience. The company started with just 130 stores under its parent company Spencer's in 2003, but now operates around 1,600 locations per year. In 2023, Spirit and its parent company made about $1.9 billion in revenue, with Spirit's two-month operations outpacing Spencer's.\n\nSpirit's growth has led to its acquisition of Hot Topic, BoxLunch, and Her Universe from Sycamore Partners, giving the company over 3,000 stores across North America. Party City, Spirit's biggest competitor, filed for bankruptcy in December 2024 and closed its nearly 700 stores by the end of February 2025. Now, consumers have more options for their Halloween shopping needs, including Walmart, Target, Amazon, and Spirit.\n\nThe company's founder and CEO, Steven Silverstein, previously worked at Linens 'n Things and Bloomingdale's before joining Spirit in 2003. He credits Bloomingdale's former CEO Marvin Traub for teaching him the importance of retail theater, which led to the development of Spirit's \"In Store Experience\" (ISE). Each year, Spirit chooses a new theme for its haunted displays, like this year's \"Camp Harbor Lake.\"\n\nFinding the right location is crucial for Spirit, as the company aims to be seen and bring shoppers to the area. Spirit pays a lump sum for the space, which it occupies for eight to 10 weeks, rather than paying market rent. The leases run for as long as the store remains open. Spirit's model has proven successful, with about 100 stores currently located in former Party City buildings.",
  "summary": "Steven Silverstein built Spirit Halloween into a 1,550-store giant with vacant buildings, returning workers and a show borrowed from Bloomingdale’s.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}