Press Release
Build-A-Bear Workshop, Inc. Issues Preliminary Sales and Pre-Tax Earnings Expectations Ahead of Presentation at ICR Conference
-
FY 2017 GAAP pre-tax income expected to be within guidance in the
range of
$12 million to $13 million , as compared to GAAP pre-tax income of$5.3 million inclusive of$5.7 million in negative adjustments in fiscal 2016 - FY 2017 consolidated comparable sales expected to decrease 6.5%
- The Company repurchased over 500,000 shares of its common stock during fiscal 2017 including over 400,000 shares in the fiscal 2017 fourth quarter
On a preliminary basis, for the Fourth Quarter (13-weeks ended
-
Total revenues of approximately
$105 million compared to$110.3 million in the fiscal 2016 fourth quarter; -
Consolidated net retail sales of approximately
$103 million compared to$107.7 million in the fiscal 2016 fourth quarter; -
Consolidated comparable sales to decrease 7.9%, including a 6.4%
decrease in
North America and a 13.0% decrease inEurope ; notably consolidated comparable E-Commerce sales are expected to increase 11.9%; - GAAP retail gross margin of 50.0%, an approximate 400 basis point improvement from 46.0% in the fiscal 2016 fourth quarter; and
-
GAAP pre-tax income in the range of
$8 million to $9 million compared to GAAP pre-tax income of$3.5 million , including$4.7 million in adjustments in the 2016 fourth quarter.
On a preliminary basis, for the 2017 Fiscal Year (52-weeks ended
-
Total revenues of approximately
$356 million compared to$364.2 million in fiscal 2016; -
Consolidated net retail sales of approximately
$348 million compared to$357.6 million in the 2016 fiscal year; -
Consolidated comparable sales to decrease 6.5%, including a 6.4%
decrease in both
North America andEurope ; notably consolidated comparable E-Commerce sales are expected to increase 2.9%; - GAAP Retail gross margin of 46.5%, an approximate 130 basis points improvement from 45.2% in the 2016 fiscal year;
-
GAAP pre-tax income in the range of
$12 million to $13 million compared to a GAAP pre-tax income of$5.3 million , including$5.7 million in adjustments in the 2016 fiscal year; and -
Capital expenditures to approximate
$18 million to $19 million ; depreciation and amortization is expected to be approximately$16 million .
In addition:
The Company repurchased 401,400 shares of its common stock for
The Company noted that its revenue, sales and profit expectations are estimated and preliminary and subject to quarter and year-end closing adjustments. As the Company has not completed its quarter and year-end fiscal close or the audit of its 2017 financial statements, the revenue, sales and profit expectations presented in this press release may change.
2018 Preliminary Expectations
The Company is providing preliminary expectations for fiscal year 2018,
the year ending
On a preliminary basis, the Company expects:
- Revenue in the range of flat to up low single digits;
- Earnings before interest and taxes (EBIT) and diluted earnings per share (EPS) to increase over fiscal year 2017*; and
-
Capital expenditures to be in the range of
$15 to $18 million .
*Given the potential impact of anticipated accounting changes and recent tax changes, the Company will provide further specificity with regard to its expectations for EBIT and EPS growth when it reports fiscal 2017 results in February.
Fiscal Year Change
The Company's Board of Directors has authorized a change in the
Company’s fiscal year end which previously ended on the Saturday closest
to
Corporate Tax Reform
On
The Company is scheduled to present at the 20th Annual
About Build-A-Bear
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Forward-Looking Statements
This press release contains certain statements that are, or may be considered to be, “forward-looking statements” for the purpose of federal securities laws, including, but not limited to, statements that reflect our current views with respect to future events and financial performance. We generally identify these statements by words or phrases such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “intend,” “predict,” “future,” “potential” or “continue,” the negative or any derivative of these terms and other comparable terminology. All of the information concerning the potential outcome of exploring strategic alternatives, our future liquidity, future revenues, margins and other future financial performance and results, achievement of operating of financial plans or forecasts for future periods, sources and availability of credit and liquidity, future cash flows and cash needs, success and results of strategic initiatives and other future financial performance or financial position, as well as our assumptions underlying such information, constitute forward-looking information.
These statements are based only on our current expectations and
projections about future events. Because these forward-looking
statements involve risks and uncertainties, there are important factors
that could cause our actual results, level of activity, performance or
achievements to differ materially from the results, level of activity,
performance or achievements expressed or implied by these
forward-looking statements, including those factors discussed under the
caption entitled “Risks Related to Our Business” and “Forward-Looking
Statements” in our Annual Report on Form 10-K filed with the
All of our forward-looking statements are as of the date of this Press
Release only. In each case, actual results may differ materially from
such forward-looking information. We can give no assurance that such
expectations or forward-looking statements will prove to be correct. An
occurrence of or any material adverse change in one or more of the risk
factors or other risks and uncertainties referred to in this Press
Release or included in our other public disclosures or our other
periodic reports or other documents or filings filed with or furnished
to the
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180109005482/en/
Source:
Build-A-Bear Workshop
Investors:
Voin Todorovic, 314-423-8000
x5221
or
Media:
Beth Kerley
bethk@buildabear.com