The Joplin Globe, Joplin, MO

Business

May 2, 2013

Build-A-Bear returns to a profit in 1st quarter

ST. LOUIS — Build-A-Bear Workshop Inc. returned to a profit in its fiscal first-quarter as sales strengthened domestically, in Europe and online.

The stock jumped more than 32 percent in afternoon trading and reached a new 52-week high.

Build-A-Bear’s stores allow customers to design customized teddy bears and other animals, which are stuffed, dressed and accessorized before their eyes.

For the period ended March 30, the St. Louis company earned $13,000, or had breakeven results on a per-share basis. That compares with a loss of $1 million, or 6 cents per share, in the 2012 first quarter.

Removing management transition costs and store closing costs, earnings were 14 cents per share.

Revenue climbed 8 percent to $104.3 million, from $96.4 million last year.

Shares of Build-A-Bear gained $1.60, or 31.7 percent, to $6.65. Earlier in the session the stock hit a fresh 52-week high of $6.75.

Revenue at stores open at least a year, a key gauge of a retailer’s health, rose 10.4 percent. This figure excludes results from stores recently opened or closed. In North America, the metric increased 10.6 percent, while in Europe it climbed 9.7 percent.

For the year-to-date through April, Build-A-Bear said revenue at stores open at least a year is up 10.1 percent.

Online sales rose 7 percent, excluding the impact of foreign exchange.

Build-A-Bear closed 18 stores during the quarter to end the period with 333 company-owned stores and 92 franchised locations. It expects to close up to 45 additional stores through 2014, aiming for between 225 and 250 stores in North America, down from its current 273.

 

1
Text Only
Business
Poll

Given that the U.S. Supreme Court has ruled that electronic devices and communications are protected from searches and seizure without a warrant, do you think Missouri needs Amendment 9 added to its constitution?

A. Yes.
B. No.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming UN Security Council Calls for Gaza Cease-fire Traditional African Dishes Teach Healthy Eating 13 Struck by Lightning on Calif. Beach Baseball Hall of Famers Inducted Israel, Hamas Trade Fire Despite Truce in Gaza Italy's Nibali Set to Win First Tour De France Raw: Shipwrecked Concordia Completes Last Voyage Raw: Sea Turtle Hatchlings Emerge From Nest Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow