ST. LOUIS--(BUSINESS WIRE)--May 31, 2018--
Build-A-Bear Workshop, Inc. (NYSE:BBW) today reported results for the
first quarter ended May 5, 2018. Given the Company’s previously
announced fiscal year-end change, all references to prior year results
are based on the recast 13 weeks ended April 29, 2017.
Sharon Price John, Build-A-Bear Workshop President and Chief Executive
Officer, commented, “In the first quarter, as we previously shared, we
expected to see a sales and profit decline versus the prior year due to
adoption of the new revenue recognition standard and the recent closure
of our largest, most productive store located in Anaheim, California.
Separately, with a less robust movie lineup for the year, we anticipated
softness in licensed product performance. And, while we expected
continued traffic declines, this headwind was further exacerbated by the
unexpected Toys“R”Us liquidation, which according to our analysis eroded
sales in nearby locations.
Ms. John continued, “At the same time, we saw ongoing improvements in
operational aspects of the business and progress in key areas of our
diversification strategy. Specifically, we generated improvements in
conversion along with record high levels in both dollars-per-transaction
and units-per-transaction while continuing the transformation of the
business from that of a traditional in-line, mall-based retailer to a
multi-faceted consumer brand. In addition, sales of proprietary product
increased, ecommerce business grew at a double-digit pace, and
international franchise revenue benefited from our recent China
expansion. We also remained focused on rebalancing our store base toward
more productive formats and locations. I continue to be encouraged by
the overall strategies we have in place that are designed to capitalize
on the power of our iconic brand by increasing the lifetime value of our
guests and adding margin-enhancing revenue streams to our Company.”
First Quarter 2018 Highlights (13 weeks ended May 5, 2018, compared
to the 13 weeks ended April 29, 2017):
-
Total revenues were $83.2 million compared to $91.2 million in the
fiscal 2017 first quarter;
-
Consolidated net retail sales were $81.4 million compared to $88.7
million in the fiscal 2017 first quarter;
-
Retail gross margin declined 340 basis points to 44.3% and included a
30 basis point increase in merchandise margin offset by occupancy
deleverage driven by lower sales;
-
Selling, general and administrative expenses (“SG&A”) were $36.3
million, or 43.7% of total revenues, compared to $39.2 million, or
43.0% of total revenues, in the fiscal 2017 first quarter;
-
GAAP pre-tax income decreased to $0.6 million, including an estimated
$0.6 million negative pre-tax impact from adoption of the new revenue
recognition standard, compared to $4.4 million in the fiscal 2017
first quarter;
-
Income tax expense was $0.3 million with an effective tax rate of
45.2%, compared to $1.8 million with an effective tax rate of 40.6% in
the fiscal 2017 first quarter. Further, the first fiscal quarters of
2018 and 2017 included the recognition of $0.1 million and $0.2
million, respectively, of net additional tax expense associated with
vested share-based payments; and
-
Net income was $0.4 million, or $0.02 per diluted share, compared to
$2.6 million, or $0.16 per diluted share, in the fiscal 2017 first
quarter.
Store Activity:
In the first quarter of fiscal 2018, the Company opened 2 locations,
closed 4 locations and remodeled or reformatted 7 stores into a
Discovery format, ending the quarter with 32% of its store base in an
updated Discovery design. As of May 5, 2018, the Company operated 352
corporately-managed locations, including 294 in North America and 58
outside of North America. The Company’s international franchisees ended
the quarter with 96 stores in 12 countries.
Balance Sheet:
As of May 5, 2018, cash and cash equivalents totaled $18.9 million. The
Company ended the quarter with no borrowings under its revolving credit
facility. Total inventory at quarter-end was $49.4 million compared to
$55.2 million at the end of the first quarter of 2017, a decrease of
10.5%. In the first quarter of fiscal 2018, capital expenditures totaled
$3.0 million and depreciation and amortization were $4.1 million.
Fiscal Year Change:
As previously disclosed, the Company's Board of Directors approved a
change in the Company’s fiscal year-end, which previously ended on the
Saturday closest to December 31, to the Saturday closest to January 31.
This change was effective following the end of the Company’s 2017 fiscal
year. As a result of this change, the Company is including a one fiscal
month transition period, December 31, 2017 through February 3, 2018, as
part of this first quarter press release.
Share Repurchase:
Since December 30, 2017, the Company repurchased 616,141 shares of its
common stock for $5.3 million, including 528,228 shares during the
transition period and 87,913 shares during the first quarter of fiscal
2018. As of May 5, 2018, the Company had $10.0 million remaining on the
share repurchase authorization that was adopted in August 2017.
Accounting Changes Impacting Revenue Recognition:
On December 31, 2017, the Company adopted “Revenue from Contracts with
Customers” (Accounting Standard Codification “Topic 606”), as required.
While the majority of the Company’s revenues were not impacted by Topic
606, the timing of the recognition of breakage revenue for certain gift
cards changed. Upon adoption, the Company recorded a pre-tax cumulative
effect increase to retained earnings of approximately $12.3 million
representing gift card breakage revenue not previously recognized that
was accelerated due to Topic 606. The change will negatively impact the
Company’s fiscal 2018 total revenue and pre-tax income by an estimated
$3.9 million with the remaining balance of the cumulative effect
adjustment predominantly impacting fiscal years 2019 and 2020.
2018 Expectations (52 weeks ended February 2, 2019 compared to the 53
weeks ended February 3, 2018):
The Company is providing guidance for its expectations for fiscal year
2018. On a GAAP basis, the Company currently expects:
-
Total revenue for the year to be in the range of $345 to $355 million.
For the remainder of the fiscal year, the Company expects revenue to
be flat to a slight increase compared to the unaudited recast fiscal
year ended February 3, 2018 excluding;
-
the balance of the negative impact of the previously mentioned
accounting changes affecting second quarter through fourth
quarter, and
-
the revenue from the one extra week included in the recast 2017
fiscal year;
-
Pre-tax income to be in the range of $8.0 million to $11.5 million. As
a reminder, 2018 guidance reflects an estimated $3.9 million negative
impact due to accounting changes in revenue recognition;
-
Diluted earnings per share to be in the range of $0.40 to $0.57, using
an effective tax rate of approximately 27%, excluding discrete items;
-
Capital expenditures to be in the range of $15 to $18 million with
depreciation and amortization in the range of $16 to $17 million; and
-
To end the year with cash and cash equivalents in the range of $25 to
$30 million.
Today’s Conference Call Webcast:
Build-A-Bear Workshop will host a live internet webcast of its quarterly
investor conference call at 9 a.m. ET today. The audio broadcast may be
accessed at the Company’s investor relations website, http://IR.buildabear.com.
The call is expected to conclude by 10 a.m. ET.
A replay of the conference call webcast will be available in the
investor relations website for one year. A telephone replay will be
available beginning at approximately noon ET today until midnight ET on
June 7, 2018. The telephone replay is available by calling (844)
512-2921. The access code is 13680205.
About Build-A-Bear
Build-A-Bear is a global brand kids love and parents trust that seeks to
add a little more heart to life. Build-A-Bear Workshop has over 400
stores worldwide where guests can create customizable furry friends,
including corporately-managed stores in the United States, Canada,
China, Denmark, Ireland, Puerto Rico, and the United Kingdom, and
franchise stores in Africa, Asia, Australia, Europe, Mexico and the
Middle East. In 2018, Build-A-Bear was named to the FORTUNE 100 Best
Companies to Work For® list for the 10th year in a row.
Build-A-Bear Workshop, Inc. (NYSE:BBW) posted total revenue of $357.9
million in fiscal 2017. For more information, visit the Investor
Relations section of buildabear.com.
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 Securities
and Exchange Commission (“SEC”) on March 15, 2018 and other periodic
reports filed with the SEC which are incorporated herein.
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 SEC could materially and adversely affect our continuing
operations and our future financial results, cash flows, available
credit, prospects and liquidity. Except as required by law, the Company
does not undertake to publicly update or revise its forward-looking
statements, whether as a result of new information, future events or
otherwise.
All other brand names, product names, or trademarks belong to their
respective holders.
|
BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES |
Unaudited Condensed Consolidated Statements of Income |
(dollars in thousands, except share and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13 Weeks |
|
|
|
|
13 Weeks |
|
|
|
|
5 Weeks |
|
|
|
|
|
Ended |
|
|
|
|
Ended |
|
|
|
|
Ended |
|
|
|
|
|
May 5, |
|
% of Total |
|
|
April 29, |
|
% of Total |
|
|
February 3, |
|
% of Total |
|
|
|
2018 |
|
Revenues (1) |
|
|
2017 |
|
|
Revenues (1) |
|
|
2018 (2)
|
|
Revenues (1) |
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net retail sales
|
|
$
|
81,425
|
|
97.9
|
|
$
|
88,743
|
|
|
97.3
|
|
|
29,586
|
|
|
97.9
|
Commercial revenue
|
|
|
1,019
|
|
1.2
|
|
|
2,038
|
|
|
2.2
|
|
|
358
|
|
|
1.2
|
International franchising
|
|
|
740
|
|
0.9
|
|
|
422
|
|
|
0.5
|
|
|
279
|
|
|
0.9
|
Total revenues
|
|
|
83,184
|
|
100.0
|
|
|
91,203
|
|
|
100.0
|
|
|
30,223
|
|
|
100.0
|
Cost of merchandise sold:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of merchandise sold - retail (1) |
|
|
45,385
|
|
55.7
|
|
|
46,456
|
|
|
52.3
|
|
|
16,062
|
|
|
54.3
|
Cost of merchandise sold - commercial (1) |
|
|
479
|
|
47.0
|
|
|
1,101
|
|
|
54.0
|
|
|
259
|
|
|
72.3
|
Cost of merchandise sold - international franchising (1) |
|
|
332
|
|
44.9
|
|
|
—
|
|
|
0.0
|
|
|
—
|
|
|
0.0
|
Total cost of merchandise sold
|
|
|
46,196
|
|
55.5
|
|
|
47,557
|
|
|
52.1
|
|
|
16,321
|
|
|
54.0
|
Consolidated gross profit
|
|
|
36,988
|
|
44.5
|
|
|
43,646
|
|
|
47.9
|
|
|
13,902
|
|
|
46.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative expense
|
|
|
36,337
|
|
43.7
|
|
|
39,228
|
|
|
43.0
|
|
|
14,920
|
|
|
49.4
|
Interest expense (income), net
|
|
|
5
|
|
0.0
|
|
|
(6
|
)
|
|
(0.0)
|
|
|
10
|
|
|
0.0
|
Income before income taxes
|
|
|
646
|
|
0.8
|
|
|
4,424
|
|
|
4.9
|
|
|
(1,028
|
)
|
|
(3.4)
|
Income tax expense (benefit)
|
|
|
292
|
|
0.4
|
|
|
1,795
|
|
|
2.0
|
|
|
(183
|
)
|
|
(0.6)
|
Net income
|
|
$
|
354
|
|
0.4
|
|
$
|
2,629
|
|
|
2.9
|
|
$
|
(845
|
)
|
|
(2.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.02
|
|
|
|
$
|
0.17
|
|
|
|
|
$
|
(0.06
|
)
|
|
|
Diluted
|
|
$
|
0.02
|
|
|
|
$
|
0.16
|
|
|
|
|
$
|
(0.06
|
)
|
|
|
Shares used in computing common per share amounts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
14,582,573
|
|
|
|
|
15,561,804
|
|
|
|
|
|
14,860,511
|
|
|
|
Diluted
|
|
|
14,722,989
|
|
|
|
|
15,695,322
|
|
|
|
|
|
14,860,511
|
|
|
|
(1)
|
|
Selected statement of income data expressed as a percentage of total
revenues, except cost of merchandise sold - retail, cost of
merchandise sold - commercial and cost of merchandise sold -
international franchising that are expressed as a percentage of net
retail sales, commercial revenue and international franchising,
respectively. Percentages will not total due to cost of merchandise
sold being expressed as a percentage of net retail sales and
commercial revenue and immaterial rounding.
|
(2)
|
|
On January 4, 2018, the Company's Board of Directors approved a
change in the Company’s fiscal year-end, which previously ended on
the Saturday closest to December 31, to the Saturday closest to
January 31. This change was effective beginning with the Company’s
current 2018 fiscal year, which began on February 4, 2018 and will
end on February 2, 2019. As a result of the change, the Company had
a one fiscal month transition period, December 31, 2017 through
February 3, 2018.
|
|
|
|
|
|
|
BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES |
Unaudited Condensed Consolidated Balance Sheets |
(dollars in thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
May 5, |
|
December 30, |
|
April 29, |
|
|
|
2018 |
|
|
|
2017 |
|
|
|
2017 |
|
|
ASSETS |
Current assets:
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
18,881
|
|
|
$
|
30,445
|
|
|
$
|
30,189
|
|
Inventories
|
|
|
49,423
|
|
|
|
53,136
|
|
|
|
55,202
|
|
Receivables
|
|
|
8,968
|
|
|
|
13,302
|
|
|
|
6,465
|
|
Prepaid expenses and other current assets
|
|
|
11,493
|
|
|
|
13,346
|
|
|
|
11,575
|
|
Total current assets
|
|
|
88,765
|
|
|
|
110,229
|
|
|
|
103,431
|
|
|
|
|
|
|
|
|
Property and equipment, net
|
|
|
76,410
|
|
|
|
77,751
|
|
|
|
73,937
|
|
Deferred tax assets
|
|
|
4,102
|
|
|
|
6,381
|
|
|
|
10,090
|
|
Other intangible assets, net
|
|
|
950
|
|
|
|
995
|
|
|
|
1,512
|
|
Other assets, net
|
|
|
2,427
|
|
|
|
2,633
|
|
|
|
2,407
|
|
Total Assets
|
|
$
|
172,654
|
|
|
$
|
197,989
|
|
|
$
|
191,377
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
Current liabilities:
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
12,965
|
|
|
$
|
18,942
|
|
|
$
|
23,442
|
|
Accrued expenses
|
|
|
8,739
|
|
|
|
15,189
|
|
|
|
12,099
|
|
Gift cards and customer deposits
|
|
|
17,007
|
|
|
|
33,926
|
|
|
|
31,596
|
|
Deferred revenue and other
|
|
|
1,893
|
|
|
|
1,806
|
|
|
|
1,943
|
|
Total current liabilities
|
|
|
40,604
|
|
|
|
69,863
|
|
|
|
69,080
|
|
|
|
|
|
|
|
|
Deferred rent
|
|
|
17,697
|
|
|
|
17,906
|
|
|
|
16,458
|
|
Deferred franchise revenue
|
|
|
1,142
|
|
|
|
1,208
|
|
|
|
516
|
|
Other liabilities
|
|
|
1,794
|
|
|
|
1,697
|
|
|
|
1,911
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
|
|
|
|
|
|
Common stock, par value $0.01 per share
|
|
|
151
|
|
|
|
155
|
|
|
|
160
|
|
Additional paid-in capital
|
|
|
66,908
|
|
|
|
68,962
|
|
|
|
69,187
|
|
Accumulated other comprehensive loss
|
|
|
(11,546
|
)
|
|
|
(11,562
|
)
|
|
|
(12,061
|
)
|
Retained earnings
|
|
|
55,904
|
|
|
|
49,760
|
|
|
|
46,126
|
|
Total stockholders' equity
|
|
|
111,417
|
|
|
|
107,315
|
|
|
|
103,412
|
|
Total Liabilities and Stockholders' Equity
|
|
$
|
172,654
|
|
|
$
|
197,989
|
|
|
$
|
191,377
|
|
|
|
|
|
|
|
|
|
BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES |
Unaudited Selected Financial and Store Data |
(dollars in thousands, except for per square foot data)
|
|
|
|
|
|
|
|
|
|
|
13 Weeks |
|
|
13 Weeks |
|
|
|
Ended |
|
|
Ended |
|
|
|
May 5, |
|
|
April 29, |
|
|
|
2018 |
|
|
2017 |
|
|
|
|
|
|
|
Other financial data: |
|
|
|
|
|
|
Retail gross margin ($) (1) |
|
$
|
36,040
|
|
|
$
|
42,287
|
|
Retail gross margin (%) (1) |
|
|
44.3
|
%
|
|
|
47.7
|
%
|
Capital expenditures (2) |
|
$
|
3,030
|
|
|
$
|
3,808
|
|
Depreciation and amortization
|
|
$
|
4,115
|
|
|
$
|
3,907
|
|
|
|
|
|
|
|
|
Store data (3): |
|
|
|
|
|
|
Number of corporately-managed retail locations at end of period
|
|
|
|
North America
|
|
|
294
|
|
|
|
276
|
|
Europe
|
|
|
57
|
|
|
|
60
|
|
Asia
|
|
|
1
|
|
|
|
1
|
|
Total corporately-managed retail locations
|
|
|
352
|
|
|
|
337
|
|
|
|
|
|
|
|
|
Number of franchised stores at end of period
|
|
|
96
|
|
|
|
88
|
|
|
|
|
|
|
|
|
Corporately-managed store square footage at end of period (4) |
|
|
|
North America
|
|
|
716,007
|
|
|
|
731,427
|
|
Europe
|
|
|
79,236
|
|
|
|
85,177
|
|
Asia
|
|
|
1,750
|
|
|
|
1,750
|
|
Total square footage
|
|
|
796,993
|
|
|
|
818,354
|
|
(1)
|
|
Retail gross margin represents net retail sales less cost of
merchandise sold - retail. Retail gross margin percentage represents
retail gross margin divided by net retail sales.
|
(2)
|
|
Capital expenditures represents cash paid for property, equipment,
other assets and other intangible assets.
|
(3)
|
|
Excludes e-commerce. North American stores are located in the United
States, Canada and Puerto Rico. In Europe, stores are located in the
United Kingdom, Ireland and Denmark. In Asia, the store is located
in China.
|
(4)
|
|
Square footage for stores located in North America is leased square
footage. Square footage for stores located in Europe is estimated
selling square footage.
|
|
|
|
|
Build-A-Bear Workshop, Inc. and subsidiaries |
Selected recast historical financial information (unaudited) |
(dollars in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal 2017 |
|
|
13 weeks ended April 29, 2017
|
|
13 weeks ended July 29, 2017
|
|
13 weeks ended October 28, 2017
|
|
14 weeks ended February 3, 2018
|
|
53 weeks ended February 3, 2018
|
Net retail sales
|
|
$
|
88,743
|
|
|
$
|
76,383
|
|
|
$
|
74,441
|
|
|
$
|
115,478
|
|
|
$
|
355,045
|
|
Commercial revenue
|
|
|
2,038
|
|
|
|
2,086
|
|
|
|
1,196
|
|
|
|
1,025
|
|
|
|
6,345
|
|
International franchising
|
|
|
422
|
|
|
|
711
|
|
|
|
514
|
|
|
|
923
|
|
|
|
2,570
|
|
Total revenues |
|
|
91,203
|
|
|
|
79,180
|
|
|
|
76,151
|
|
|
|
117,426
|
|
|
|
363,960
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of merchandise sold - retail
|
|
|
46,456
|
|
|
|
42,339
|
|
|
|
43,267
|
|
|
|
55,406
|
|
|
|
187,468
|
|
Cost of merchandise sold - commercial
|
|
|
1,101
|
|
|
|
1,235
|
|
|
|
558
|
|
|
|
767
|
|
|
|
3,661
|
|
Cost of merchandise sold - int'l franchising
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
Total cost of merchandise sold ($) |
|
|
47,557
|
|
|
|
43,574
|
|
|
|
43,825
|
|
|
|
56,173
|
|
|
|
191,129
|
|
Total cost of merchandise sold (%) 1 |
|
|
52.1 |
% |
|
|
55.0 |
% |
|
|
57.6 |
% |
|
|
47.8% |
|
|
|
52.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative
|
|
|
39,228
|
|
|
|
35,780
|
|
|
|
36,196
|
|
|
|
47,633
|
|
|
|
158,837
|
|
Interest expense/(income)
|
|
|
(6
|
)
|
|
|
(10
|
)
|
|
|
7
|
|
|
|
33
|
|
|
|
24
|
|
Income/(loss) before income taxes |
|
|
4,424
|
|
|
|
(164
|
)
|
|
|
(3,877
|
)
|
|
|
13,587
|
|
|
|
13,970
|
|
Income/(loss) before income taxes (%) 1 |
|
|
4.9 |
% |
|
|
(0.2 |
)% |
|
|
(5.1 |
)% |
|
|
11.6% |
|
|
|
3.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Retail gross margin ($) 2 |
|
|
42,287
|
|
|
|
34,044
|
|
|
|
31,174
|
|
|
|
60,072
|
|
|
|
167,577
|
|
Retail gross margin (%) 2 |
|
|
47.7 |
% |
|
|
44.6 |
% |
|
|
41.9 |
% |
|
|
52.0% |
|
|
|
47.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store count
|
|
|
337
|
|
|
|
353
|
|
|
|
351
|
|
|
|
354
|
|
|
|
354
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected balance sheet information: |
|
|
|
|
|
|
|
|
|
|
|
Cash
|
|
$
|
30,189
|
|
|
$
|
12,236
|
|
|
$
|
11,381
|
|
|
$
|
21,499
|
|
|
$
|
21,499
|
|
Inventory
|
|
$
|
55,202
|
|
|
$
|
59,368
|
|
|
$
|
62,854
|
|
|
$
|
58,100
|
|
|
$
|
58,100
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
Selected statement of income data expressed as a percentage of total
revenues.
|
(2)
|
|
Retail gross margin represents net retail sales less cost of
merchandise sold - retail. Retail gross margin percentage represents
retail gross margin divided by net retail sales.
|
|
|
|

View source version on businesswire.com: https://www.businesswire.com/news/home/20180531005383/en/
Source: Build-A-Bear Workshop, Inc.
Build-A-Bear Workshop Investors: Voin Todorovic, 314-423-8000
x5221 or Media: Beth Kerley bethk@buildabear.com
|