Build-A-Bear Workshop up on improved Q3 results
Build-A-Bear Workshop, Inc. (NYSE: BBW) shares are edging up after the stuffed bear retailer reported third-quarter net income of $3 million, or $0.15 per share, missing analyst expectations of $0.18 per share and compared with $2.7 million, or $0.13 per share, a year earlier.
“While the current economic environment is challenging for the consumer, our profit performance underscores the fundamental strength of our store model and the store experience we provide to our guests,” CEO Maxine Clark said in a statement. “Our stores are highly productive, generating strong sales per square foot. In addition, our business, despite difficult sales, continues to deliver a high return on investment and strong cash flow.”
Revenue for the third quarter jumped 8.2% to $109.8 million, below Wall Street estimates of $114 million and compared with $101.5 million during the same period of 2006.
The St. Louis-based company said it will not provide guidance because it is undergoing a strategic review.
During the third quarter, Build-A-Bear opened six stores and closed one.
In morning trading, BBW shares are up 1.34%, or $0.23, at $17.36. Over the last 52 weeks, shares have ranged from $15.10 to $32.08.
