Build-A-Bear Workshop Updates FY24 Outlook

Build-A-Bear Workshop

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Build-A-Bear Workshop (BBW) said, for fiscal 2024, the company now expects: total revenue in the range of $489 million to $495 million, representing growth on a low-single-digit percentage basis at the midpoint; and pretax income in the range of $65 million to $67 million, in line with the prior year at the midpoint. In August, the company anticipated, for fiscal 2024, as compared to 53-week fiscal 2023, total revenue growth on a low-to-mid-single-digit percentage basis, and pre-tax income growth on a low-single-digit percentage basis.

For fiscal 2024, as compared to the 2023 non-GAAP 52-week year, the company now expects: total revenue in the range of $489 million to $495 million, representing growth on a low-single-digit percentage basis at the midpoint; and pretax income in the range of $65 million to $67 million, representing growth on a low-single-digit percentage basis at the midpoint. In August, the company anticipated, for fiscal 2024, as compared to the 2023 non-GAAP 52-week year, total revenue growth on a mid-single-digit percentage basis, and pre-tax income growth on a mid-single-digit percentage basis.

For 2024, the company increased net new unit growth to at least 65 experience locations globally, up from 50 locations.

Q3 Results:

Third quarter bottom line came in at $9.87 million, or $0.73 per share compared with $7.59 million, or $0.53 per share, in last year's third quarter. Analysts on average had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter rose 11.0% to $119.43 million from $107.56 million last year.

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