\nBuild-A-Bear Workshop, Inc. (NYSE: BBW) today announced results for the third quarter of fiscal year 2025 ended November 1, 2025.\n<\/p>\n
- \n
- \nTotal revenues were a third-quarter record $122.7 million, compared to $119.4 million, and for the first nine months, total revenues were also a record $375.3 million, compared to $346.0 million\n<\/li>\n
- \nPre-tax income for the third quarter was $10.7 million, compared to $13.1 million, with an approximate $4 million tariff and related cost impact, and for the first nine months, pre-tax income was $45.7 million, compared to $39.7 million, with an approximate $5 million tariff and related cost impact\n<\/li>\n
- \nThird-quarter diluted earnings per share of $0.62, compared with $0.73, and nine-month diluted earnings per share of $2.73, compared with $2.20\n<\/li>\n
- \nThrough the first nine months of fiscal 2025, the Company returned $26.1 million to shareholders through share repurchases and quarterly dividends\n<\/li>\n
- \nThe Company reaffirms its guidance for fiscal 2025\n<\/li>\n<\/ul>\n
\n\u201cWe are pleased to report record third-quarter and first-nine-months revenue, driven by continued strong store performance in our Direct-to-Consumer segment, and double-digit revenue growth for our Commercial segment. These achievements were further reinforced by opening over 50 net new units on a year-to-date basis, inclusive of our entry into seven additional countries. Based on this, and our continued momentum, we are reaffirming guidance for the year,\u201d commented Sharon Price John, President and Chief Executive Officer of Build-A-Bear Workshop. \u201cLooking ahead, we remain focused on advancing our long-term strategic initiatives, particularly the global expansion of our partner-operated model, while continuing to navigate a dynamic economic environment,\u201d concluded Ms. John.\n<\/p>\n
\nVoin Todorovic, Chief Financial Officer of Build-A-Bear Workshop, added, \u201cThe Company\u2019s most profitable first nine months in our history underscore the durability of our evolved and diversified business model as well as the ability to execute our strategic plan. While the Company preemptively mitigated significant tariff impacts during the first half of the year, the third quarter marked the first meaningful expenses from tariffs and related costs. We expect this elevated level of impact to continue through the fourth quarter and into the next fiscal year. Nevertheless, we remain confident in our guidance, which accounts for tariff impacts and our focus on disciplined expense management.”\n<\/p>\n
Third Quarter Fiscal 2025 Results<\/b><\/p>\n
\n(13 weeks ended November 1, 2025, compared to the 13 weeks ended November 2, 2024)\n<\/p>\n
- \n
- \nTotal revenues were $122.7 million and increased 2.7%.\n<\/li>\n<\/ul>\n
- \n
- \nNet retail sales were $112.3 million and increased 2.5%.\n<\/li>\n
- \nConsolidated e-commerce demand (online orders fulfilled from either the Company\u2019s warehouses or its stores) decreased 10.8%.\n<\/li>\n
- \nCommercial and International franchising segment revenues were a combined $10.4 million and increased 4.9%.\n<\/li>\n<\/ul>\n
- \n
- \nPre-tax income was $10.7 million, or 8.7% of total revenues, compared to $13.1 million, or 11.0% of total revenues, in the prior-year quarter. The $2.4 million decline reflects approximately $4 million in tariffs and related costs. The 230-basis-point reduction in pre-tax margin reflects a 40-basis-point decrease in gross margin, driven by a decline in Retail and Commercial gross margins, primarily due to the impact of tariffs, and a 180-basis-point increase in selling, general and administration (\u201cSG&A\u201d) expense, from higher store-level compensation, timing of marketing expenses, and general inflationary pressures.\n<\/li>\n<\/ul>\n
- \n
- \nDiluted earnings per share (\u201cEPS\u201d) of $0.62, decreased by 15.1%, reflecting lower pre-tax income, partially offset by a lower income tax rate, and a reduction in share count.\n<\/li>\n<\/ul>\n
- \n
- \nEarnings before interest, taxes, depreciation and amortization (\u201cEBITDA\u201d) of $14.2 million, decreased by 14.6%, and represented 11.6% of total revenues.\n<\/li>\n<\/ul>\n
Nine-Month Fiscal 2025 Results<\/b><\/p>\n
\n(39 weeks ended November 1, 2025, compared to the 39 weeks ended November 2, 2024)\n<\/p>\n
- \n
- \nTotal revenues were $375.3 million and increased 8.5%.\n<\/li>\n<\/ul>\n
- \n
- \nNet retail sales were $346.5 million and increased 8.0%.\n<\/li>\n
- \nConsolidated e-commerce demand (online orders fulfilled from either the Company\u2019s warehouses or its stores) decreased 0.7%.\n<\/li>\n
- \nCommercial and International franchising segment revenues were a combined $28.8 million and increased 14.7%.\n<\/li>\n<\/ul>\n
- \n
- \nPre-tax income was $45.7 million, or 12.2% of total revenues, compared to $39.7 million, or 11.5% of total revenues, in the prior year. The $6.0 million profit expansion includes approximately $5 million in tariffs and related costs. The 70-basis-point improvement in pre-tax margin reflects a 180-basis-point improvement in total gross margin driven by expansion in Retail gross margin from reduced promotional activity, leverage of fixed costs, and selective price increases, partially offset by the impact of tariffs, and a 110-basis-point increase in SG&A expense, due to higher store-level compensation, corporate costs, and general inflationary pressures.\n<\/li>\n<\/ul>\n
- \n
- \nDiluted EPS of $2.73, increased by 24.1%, reflecting higher pre-tax income, a lower income tax rate, and a reduction in share count.\n<\/li>\n<\/ul>\n
- \n
- \nEBITDA of $56.1 million, increased by 12.5%, and represented 15.0% of total revenues.\n<\/li>\n<\/ul>\n
Store Activity<\/b><\/p>\n
\nFor the quarter, the Company had net new unit growth of 24 global experience locations, comprised of seven corporately-managed, 11 partner-operated, and six franchise locations. At the end of the third quarter, Build-A-Bear had 651 locations across its corporately-managed, partner-operated, and franchise business models. Globally, this reflects 375 corporately-managed, 168 partner-operated, and 108 franchise locations.\n<\/p>\n
Balance Sheet<\/b><\/p>\n
\nAt third-quarter end, cash and cash equivalents totaled $27.7 million, a decrease of $1.2 million, or 4.2%, compared to third-quarter end last year. The Company finished the quarter with no borrowings under its revolving credit facility.\n<\/p>\n
\nFor the third quarter and first nine months of fiscal 2025, capital expenditures totaled $6.5 million and $12.9 million, respectively.\n<\/p>\n
\nInventory at quarter-end totaled $83.3 million, an increase of $12.5 million, or 17.7%, compared to third-quarter end last year, primarily driven by the added cost of tariffs and the pull-forward of products aligned with our tariff-mitigation plans. The Company remains comfortable with the level and composition of its inventory.\n<\/p>\n
Return of Capital to Shareholders<\/b><\/p>\n
\nFor the third quarter, the Company utilized $10.1 million in cash to repurchase 168,456 shares of its common stock and paid a quarterly cash dividend of $2.9 million to shareholders. For the first nine months of fiscal 2025, the Company utilized $17.4 million in cash to repurchase 336,041 shares of its common stock and paid $8.7 million in quarterly cash dividends to shareholders.\n<\/p>\n
\nSince the end of the third quarter through December 3, the Company has utilized $2.1 million in cash to repurchase an additional 41,551 shares of its common stock. The Company has $69.7 million remaining under the board-authorized $100.0 million stock repurchase program adopted on September 11, 2024.\n<\/p>\n
2025 Outlook<\/b><\/p>\n
\nThe Company reaffirms its 2025 revenue, pre-tax income, and net-new-unit guidance.\n<\/p>\n
\nSpecifically, the Company continues to expect:\n<\/p>\n
- \n
- \nTotal revenues to grow on a mid-to-high-single-digit percentage basis\n<\/li>\n
- \nPre-tax income in the range of $62 million to $70 million, reflecting approximately $11 million of tariffs and related costs during the seven months from July through the end of the fiscal year\n<\/li>\n
- \nNet-new-unit growth of at least 60 experience locations through a combination of corporately-managed, partner-operated, and franchise business models\n<\/li>\n<\/ul>\n
\nIn addition, for fiscal 2025, the Company continues to expect:\n<\/p>\n
- \n
- \nCapital expenditures in the range of $20 million to $25 million\n<\/li>\n
- \nDepreciation and amortization to approximate $16 million\n<\/li>\n
- \nThe income tax rate to be in the range of 22% to 24%, excluding discrete items\n<\/li>\n<\/ul>\n
\nThe Company\u2019s guidance considers various factors, including tariffs, medical and labor costs, changes in freight expense, and ongoing inflationary challenges. Additionally, the Company\u2019s outlook does not contemplate any further material changes in tariffs, the macroeconomic or geopolitical environment, or relevant foreign currency exchange rates.\n<\/p>\n
Note Regarding Non-GAAP Financial Measures<\/b><\/p>\n
\nIn this press release, the Company\u2019s financial results are provided both in accordance with generally accepted accounting principles (GAAP) and using certain non-GAAP financial measures. In particular, the Company provides historic income adjusted to exclude certain costs, which are non-GAAP financial measures. These results are included as a complement to results provided in accordance with GAAP because management believes these non-GAAP financial measures help identify underlying trends in the Company\u2019s business and provide useful information to both management and investors by excluding certain items that may not be indicative of the Company\u2019s core operating results. These measures should not be considered a substitute for or superior to GAAP results. These non-GAAP financial measures are defined and reconciled to the most comparable GAAP measure later in this document.\n<\/p>\n
Webcast and Conference Call Information<\/b><\/p>\n
\nToday, at 9:00 AM ET, Build-A-Bear Workshop will host a conference call with investors and financial analysts to discuss its financial results. The call will be webcast on Build-A-Bear\u2019s Investor Relations website, https:\/\/ir.buildabear.com<\/a>.\n<\/p>\n
\nThe dial-in number for the live conference call is (877) 407-3982 or (201) 493-6780 for international callers. The access code is Build-A-Bear. The call is expected to conclude by 10 AM ET.\n<\/p>\n
\nA replay of the conference call webcast will be available on the investor relations website for one year. A telephone replay will be available from approximately 1:00 p.m. ET on Thursday, December 4, 2025, until 11:59 p.m. ET on Thursday, December 11, 2025. The telephone replay is available by calling (412) 317-6671 (toll\/international) or (844) 512-2921 (toll-free). The access code is 13756755.\n<\/p>\n
About Build-A-Bear<\/b><\/p>\n
\nSince its beginning in 1997, Build-A-Bear has evolved to become a beloved multi-generational brand focused on its mission to \u201cadd a little more heart to life,\u201d where guests of all ages make their own \u201cfurry friends\u201d in celebration and commemoration of life moments. Guests create their own stuffed animals by participating in the stuffing, dressing, accessorizing, and naming of their own teddy bears and other plush toys based on the Company\u2019s own intellectual property and in conjunction with a variety of best-in-class licenses. The hands-on and interactive nature of our more than 600 company-owned, partner-operated and franchise experience locations around the world, combined with Build-A-Bear\u2019s pop-culture appeal, often fosters a lasting and emotional brand connection with consumers and has enabled the Company to expand beyond its retail stores to include e-commerce sales on www.buildabear.com<\/a> and non-plush branded consumer categories via out-bound licensing agreements with leading manufacturers, as well as the creation of engaging content via Build-A-Bear Entertainment (a subsidiary of Build-A-Bear Workshop, Inc.). The brand\u2019s newest communications campaign, “The Stuff You Love,” commemorates more than a quarter-century of creating cherished memories worldwide. Build-A-Bear Workshop, Inc. (NYSE: BBW) posted consolidated total revenues of $496.4 million for fiscal 2024. For more information, visit the Investor Relations section of buildabear.com.\n<\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nThis press release contains certain statements that are, or may be considered to be, \u201cforward-looking statements\u201d 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 \u201cmay,\u201d \u201cmight,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cplan,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cpredict,\u201d \u201cfuture,\u201d \u201cpotential\u201d or \u201ccontinue,\u201d the negative or any derivative of these terms and other comparable terminology. All the information concerning 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.\n<\/p>\n
\nThese 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 \u201cRisks Related to Our Business\u201d and \u201cForward-Looking Statements\u201d in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (\u201cSEC\u201d) on April 18, 2024 and other periodic reports filed with the SEC which are incorporated herein.\n<\/p>\n
\nAll 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.\n<\/p>\n
\nAll other brand names, product names, or trademarks belong to their respective holders.\u2003\n<\/p>\n
\n
\n BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n \n Unaudited Condensed Consolidated Statements of Operations<\/b><\/td>\n<\/tr>\n \n (dollars in thousands, except share and per share data)<\/td>\n<\/tr>\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n 13 Weeks<\/b><\/td>\n \n \n \n \n 13 Weeks<\/b><\/td>\n \n <\/tr>\n \n \n \n Ended<\/b><\/td>\n \n \n \n \n Ended<\/b><\/td>\n \n <\/tr>\n \n \n \n November 1,<\/b><\/td>\n \n % of Total<\/b><\/td>\n \n \n November 2,<\/b><\/td>\n \n % of Total<\/b><\/td>\n<\/tr>\n \n \n \n \n 2025<\/b><\/p>\n<\/td>\n
\n Revenues (1)<\/sup><\/b><\/td>\n \n \n \n 2024<\/b><\/p>\n<\/td>\n
\n Revenues (1)<\/sup><\/b><\/td>\n<\/tr>\n \n Revenues:<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n Net retail sales<\/td>\n $<\/td>\n \n \n112,268\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n91.5\n<\/p>\n<\/td>\n
\n $<\/td>\n \n \n109,503\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n91.7\n<\/p>\n<\/td>\n<\/tr>\n
\n Commercial revenue<\/td>\n \n \n \n8,942\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n7.3\n<\/p>\n<\/td>\n
\n \n \n \n8,580\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n7.2\n<\/p>\n<\/td>\n<\/tr>\n
\n International franchising<\/td>\n \n \n \n1,469\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1.2\n<\/p>\n<\/td>\n
\n \n \n \n1,347\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1.1\n<\/p>\n<\/td>\n<\/tr>\n
\n Total revenues<\/td>\n \n \n \n122,679\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n100.0\n<\/p>\n<\/td>\n
\n \n \n \n119,430\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n100.0\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost and expenses:<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost of merchandise sold – retail (1)<\/sup><\/td>\n \n \n \n51,778\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n46.1\n<\/p>\n<\/td>\n
\n \n \n \n50,116\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n45.8\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost of merchandise sold – commercial (1)<\/sup><\/td>\n \n \n \n4,111\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n46.0\n<\/p>\n<\/td>\n
\n \n \n \n3,669\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n42.8\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost of merchandise sold – international franchising (1)<\/sup><\/td>\n \n \n \n968\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n65.9\n<\/p>\n<\/td>\n
\n \n \n \n1,005\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n74.6\n<\/p>\n<\/td>\n<\/tr>\n
\n Total cost of merchandise sold<\/td>\n \n \n \n56,857\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n46.3\n<\/p>\n<\/td>\n
\n \n \n \n54,790\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n45.9\n<\/p>\n<\/td>\n<\/tr>\n
\n Consolidated gross profit<\/td>\n \n \n \n65,821\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n53.7\n<\/p>\n<\/td>\n
\n \n \n \n64,640\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n54.1\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Selling, general and administrative expense<\/td>\n \n \n \n55,314\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n45.1\n<\/p>\n<\/td>\n
\n \n \n \n51,668\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n43.3\n<\/p>\n<\/td>\n<\/tr>\n
\n Interest (income) expense, net<\/td>\n \n \n \n(221\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(0.2)\n<\/p>\n<\/td>\n
\n \n \n \n(109\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(0.1)\n<\/p>\n<\/td>\n<\/tr>\n
\n Income before income taxes<\/td>\n \n \n \n10,729\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n8.7\n<\/p>\n<\/td>\n
\n \n \n \n13,081\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n11.0\n<\/p>\n<\/td>\n<\/tr>\n
\n Income tax expense<\/td>\n \n \n \n2,607\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n2.1\n<\/p>\n<\/td>\n
\n \n \n \n3,211\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n2.7\n<\/p>\n<\/td>\n<\/tr>\n
\n Net income<\/td>\n $<\/td>\n \n \n8,122\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n6.6\n<\/p>\n<\/td>\n
\n $<\/td>\n \n \n9,870\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n8.3\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Income per common share:<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n $<\/td>\n \n \n0.62\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n $<\/td>\n \n \n0.74\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Diluted<\/td>\n $<\/td>\n \n \n0.62\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n $<\/td>\n \n \n0.73\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Shares used in computing common per share amounts:<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n13,010,074\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n13,425,332\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Diluted<\/td>\n \n \n \n13,051,523\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n13,461,983\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n(1)\n<\/p>\n<\/td>\n
\n \nSelected statement of operations 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.\u00a0 Percentages will not total due to cost of merchandise sold being expressed as a percentage of net retail sales, commercial revenue or international franchising and immaterial rounding.\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n \n Unaudited Condensed Consolidated Statements of Operations<\/b><\/td>\n<\/tr>\n \n (dollars in thousands, except share and per share data)<\/td>\n<\/tr>\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n 39 Weeks<\/b><\/td>\n \n \n \n \n 39 Weeks<\/b><\/td>\n \n <\/tr>\n \n \n \n Ended<\/b><\/td>\n \n \n \n \n Ended<\/b><\/td>\n \n <\/tr>\n \n \n \n November 1,<\/b><\/td>\n \n % of Total<\/b><\/td>\n \n \n November 2,<\/b><\/td>\n \n % of Total<\/b><\/td>\n<\/tr>\n \n \n \n \n 2025<\/b><\/p>\n<\/td>\n
\n Revenues (1)<\/sup><\/b><\/td>\n \n \n \n 2024<\/b><\/p>\n<\/td>\n
\n Revenues (1)<\/sup><\/b><\/td>\n<\/tr>\n \n Revenues:<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n Net retail sales<\/td>\n $<\/td>\n \n \n346,492\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n92.3\n<\/p>\n<\/td>\n
\n $<\/td>\n \n \n320,826\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n92.7\n<\/p>\n<\/td>\n<\/tr>\n
\n Commercial revenue<\/td>\n \n \n \n25,192\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n6.7\n<\/p>\n<\/td>\n
\n \n \n \n21,858\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n6.3\n<\/p>\n<\/td>\n<\/tr>\n
\n International franchising<\/td>\n \n \n \n3,637\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n1.0\n<\/p>\n<\/td>\n
\n \n \n \n3,274\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n0.8\n<\/p>\n<\/td>\n<\/tr>\n
\n Total revenues<\/td>\n \n \n \n375,321\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n100.0\n<\/p>\n<\/td>\n
\n \n \n \n345,958\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n99.8\n<\/p>\n<\/td>\n<\/tr>\n
\n Costs and expenses:<\/td>\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost of merchandise sold – retail (1)<\/sup><\/td>\n \n \n \n151,901\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n43.8\n<\/p>\n<\/td>\n
\n \n \n \n147,138\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n45.9\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost of merchandise sold – commercial (1)<\/sup><\/td>\n \n \n \n10,544\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n41.9\n<\/p>\n<\/td>\n
\n \n \n \n9,210\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n42.1\n<\/p>\n<\/td>\n<\/tr>\n
\n Cost of merchandise sold – international franchising (1)<\/sup><\/td>\n \n \n \n2,557\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n70.3\n<\/p>\n<\/td>\n
\n \n \n \n2,236\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n68.3\n<\/p>\n<\/td>\n<\/tr>\n
\n Total cost of merchandise sold<\/td>\n \n \n \n165,002\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n44.0\n<\/p>\n<\/td>\n
\n \n \n \n158,584\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n45.8\n<\/p>\n<\/td>\n<\/tr>\n
\n Consolidated gross profit<\/td>\n \n \n \n210,318\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n56.0\n<\/p>\n<\/td>\n
\n \n \n \n187,374\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n54.2\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Selling, general and administrative expense<\/td>\n \n \n \n165,268\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n44.0\n<\/p>\n<\/td>\n
\n \n \n \n148,442\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n42.9\n<\/p>\n<\/td>\n<\/tr>\n
\n Interest expense (income), net<\/td>\n \n \n \n(627\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(0.2)\n<\/p>\n<\/td>\n
\n \n \n \n(723\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n(0.2)\n<\/p>\n<\/td>\n<\/tr>\n
\n Income before income taxes<\/td>\n \n \n \n45,678\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n12.2\n<\/p>\n<\/td>\n
\n \n \n \n39,655\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n11.5\n<\/p>\n<\/td>\n<\/tr>\n
\n Income tax expense<\/td>\n \n \n \n9,870\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n2.6\n<\/p>\n<\/td>\n
\n \n \n \n9,548\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n2.8\n<\/p>\n<\/td>\n<\/tr>\n
\n Net income<\/td>\n $<\/td>\n \n \n35,808\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n9.5\n<\/p>\n<\/td>\n
\n $<\/td>\n \n \n30,107\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n8.7\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Income per common share:<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n $<\/td>\n \n \n2.74\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n $<\/td>\n \n \n2.20\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Diluted<\/td>\n $<\/td>\n \n \n2.73\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n $<\/td>\n \n \n2.20\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Shares used in computing common per share amounts:<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n13,067,330\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n13,672,416\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n Diluted<\/td>\n \n \n \n13,108,377\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n \n \n \n13,712,461\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n\u00a0(1)\n<\/p>\n<\/td>\n
\n \nSelected statement of operations 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.\u00a0 Percentages will not total due to cost of merchandise sold being expressed as a percentage of net retail sales, commercial revenue or international franchising and immaterial rounding.\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n Unaudited Condensed Consolidated Balance Sheets<\/b><\/td>\n<\/tr>\n \n (dollars in thousands, except per share data)<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n November 1,<\/b><\/td>\n \n February 1,<\/b><\/td>\n \u00a0<\/td>\n November 2,<\/b><\/td>\n<\/tr>\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n ASSETS<\/b><\/td>\n<\/tr>\n \n Current assets:<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n Cash, cash equivalents and restricted cash<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n27,737\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n27,758\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n28,955\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Inventories, net<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n83,275\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n69,775\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n70,774\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Receivables, net<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,566\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n16,096\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n13,461\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Prepaid expenses and other current assets<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n11,568\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n12,669\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n11,982\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total current assets<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n138,147\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n126,298\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n125,172\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Operating lease right-of-use asset<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n111,722\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n90,200\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n91,268\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Property and equipment, net<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n62,287\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n59,761\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n54,498\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Deferred tax assets<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n7,916\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n7,596\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n8,638\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Other assets, net<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,428\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,101\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,286\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total Assets<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n326,499\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n289,956\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n285,862\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/td>\n<\/tr>\n \n Current liabilities:<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n Accounts payable<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n17,442\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n16,538\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n18,403\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Accrued expenses<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n19,853\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n16,209\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n19,994\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Operating lease liability short term<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n27,271\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n26,841\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n28,832\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Gift cards and customer deposits<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n14,163\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,791\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,697\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Deferred revenue and other<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,792\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,015\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,498\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total current liabilities<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n83,522\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n79,394\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n86,424\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Operating lease liability long term<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n90,943\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n70,155\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n69,518\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Other long-term liabilities<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,417\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,325\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,347\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Stockholders’ equity:<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n Common stock, par value $0.01 per share<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n130\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n133\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n135\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Additional paid-in capital<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n61,339\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n61,987\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n62,511\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Accumulated other comprehensive loss<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(11,548\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(12,554\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(11,811\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Retained earnings<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n100,696\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n89,516\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n77,738\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total stockholders’ equity<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n150,617\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n139,082\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n128,573\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total Liabilities and Stockholders’ Equity<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n326,499\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n289,956\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \n$\n<\/p>\n<\/td>\n
\n \n285,862\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n \n Unaudited Selected Financial and Store Data<\/b><\/td>\n<\/tr>\n \n (dollars in thousands)<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n 13 Weeks
\n
Ended
\n
November 1,
\n
2025<\/b><\/p>\n<\/td>\n\n \n 13 Weeks
\n
Ended
\n
November 2,
\n
2024<\/b><\/p>\n<\/td>\n\n \n \n 39 Weeks
\n
Ended
\n
November 1,
\n
2025<\/b><\/p>\n<\/td>\n\n \n 39 Weeks
\n
Ended
\n
November 2,
\n
2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other financial data:<\/b><\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Retail gross margin ($) (1)<\/sup><\/td>\n $<\/td>\n \n \n60,490\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
$<\/td>\n \n \n59,387\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n $<\/td>\n \n \n194,591\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
$<\/td>\n \n \n173,688\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Retail gross margin (%) (1)<\/sup><\/td>\n \n \n \n53.9\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n54.2\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n \n56.2\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n
\n \n \n54.1\n<\/p>\n<\/td>\n
\n \n%\n<\/p>\n<\/td>\n<\/tr>\n
\n Capital expenditures (2)<\/sup><\/td>\n $<\/td>\n \n \n6,544\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
$<\/td>\n \n \n3,871\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n $<\/td>\n \n \n12,872\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
$<\/td>\n \n \n9,571\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Depreciation and amortization<\/td>\n $<\/td>\n \n \n3,699\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
$<\/td>\n \n \n3,688\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n $<\/td>\n \n \n11,067\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
$<\/td>\n \n \n10,983\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Store data (3)<\/sup>:<\/b><\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n Number of corporately-managed retail locations at end of period<\/td>\n \n \n \n \n \n \n <\/tr>\n \n North America<\/td>\n \n \n \n \n \n \n \n \n334\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n324\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Europe<\/td>\n \n \n \n \n \n \n \n \n41\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n38\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total corporately-managed retail locations<\/td>\n \n \n \n \n \n \n375\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n362\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Number of franchised stores at end of period(4)<\/sup><\/td>\n \n \n \n \n \n \n108\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n89\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Number of third-party retail locations at end of period<\/td>\n \n \n \n \n \n \n168\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n123\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Corporately-managed store square footage at end of period (5)<\/sup><\/td>\n \n \n \n \n \n <\/tr>\n \n North America<\/td>\n \n \n \n \n \n \n \n \n743,933\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n730,855\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Europe<\/td>\n \n \n \n \n \n \n \n \n57,015\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n53,443\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Total square footage<\/td>\n \n \n \n \n \n \n \n \n800,948\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n784,298\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n(1)\n<\/p>\n<\/td>\n
Retail gross margin represents net retail sales less cost of merchandise sold – retail.\u00a0 Retail gross margin percentage represents retail gross margin divided by net retail sales. Store impairment is excluded from retail gross margin.<\/td>\n<\/tr>\n \n \n \n(2)\n<\/p>\n<\/td>\n
Capital expenditures represents cash paid for property, equipment, and other assets.\u00a0<\/td>\n<\/tr>\n \n \n \n(3)\n<\/p>\n<\/td>\n
Excludes e-commerce. North American stores are located in the United States and Canada. In Europe, stores are located in the United Kingdom and Ireland. Seasonal locations not included in store count.<\/td>\n<\/tr>\n \n \n \n(4)\n<\/p>\n<\/td>\n
Count for both years include nine shop-in-shop locations in Australia not previously reported.<\/td>\n<\/tr>\n \n \n \n(5)\n<\/p>\n<\/td>\n
Square footage for stores located in North America is leased square footage.\u00a0 Square footage for stores located in Europe is estimated selling square footage. Seasonal locations not included in the store count.<\/td>\n<\/tr>\n<\/table>\n \n
\n \n * Non-GAAP Financial Measures<\/b><\/p>\n<\/td>\n
\n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n \n Reconciliation of GAAP to Non-GAAP figures<\/b><\/td>\n<\/tr>\n \n (dollars in thousands)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n 13 Weeks
\n
Ended
\n
November 1,
\n
2025<\/b><\/p>\n<\/td>\n\n \n 13 Weeks
\n
Ended
\n
November 2,
\n
2024<\/b><\/p>\n<\/td>\n\n \n 39 Weeks
\n
Ended
\n
November 1,
\n
2025<\/b><\/p>\n<\/td>\n\n \n 39 Weeks
\n
Ended
\n
November 2,
\n
2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n Income before income taxes (pre-tax)<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n10,729\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n13,081\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n45,678\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n39,655\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Interest (income) expense, net<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(221\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(109\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(627\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(723\n<\/p>\n<\/td>\n
\n \n)\n<\/p>\n<\/td>\n<\/tr>\n
\n Depreciation and amortization expense<\/td>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,699\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,688\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n11,067\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n10,983\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n Earnings before interest, taxes, depreciation and amortization (EBITDA)<\/td>\n \n \n \n$\n<\/p>\n<\/td>\n
\n \n14,207\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n16,660\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n56,118\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n49,915\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0\n<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20251204911474\/en\/<\/a><\/span><\/p>\n
Investor Relations Contact
\n<\/b>
Gary Schnierow, Vice President, Investor Relations & Corporate Finance
\n
garys@buildabear.com<\/a><\/p>\nMedia Relations Contact
\n<\/b>
pr@buildabear.com<\/a><\/p>\nKEYWORDS:<\/b> New York Missouri United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Family Online Retail Toys Retail Consumer Children Specialty<\/p>\n
- \nEBITDA of $56.1 million, increased by 12.5%, and represented 15.0% of total revenues.\n<\/li>\n<\/ul>\n
- \nDiluted EPS of $2.73, increased by 24.1%, reflecting higher pre-tax income, a lower income tax rate, and a reduction in share count.\n<\/li>\n<\/ul>\n
- \nPre-tax income was $45.7 million, or 12.2% of total revenues, compared to $39.7 million, or 11.5% of total revenues, in the prior year. The $6.0 million profit expansion includes approximately $5 million in tariffs and related costs. The 70-basis-point improvement in pre-tax margin reflects a 180-basis-point improvement in total gross margin driven by expansion in Retail gross margin from reduced promotional activity, leverage of fixed costs, and selective price increases, partially offset by the impact of tariffs, and a 110-basis-point increase in SG&A expense, due to higher store-level compensation, corporate costs, and general inflationary pressures.\n<\/li>\n<\/ul>\n
- \nTotal revenues were $375.3 million and increased 8.5%.\n<\/li>\n<\/ul>\n
- \nEarnings before interest, taxes, depreciation and amortization (\u201cEBITDA\u201d) of $14.2 million, decreased by 14.6%, and represented 11.6% of total revenues.\n<\/li>\n<\/ul>\n
- \nDiluted earnings per share (\u201cEPS\u201d) of $0.62, decreased by 15.1%, reflecting lower pre-tax income, partially offset by a lower income tax rate, and a reduction in share count.\n<\/li>\n<\/ul>\n
- \nPre-tax income was $10.7 million, or 8.7% of total revenues, compared to $13.1 million, or 11.0% of total revenues, in the prior-year quarter. The $2.4 million decline reflects approximately $4 million in tariffs and related costs. The 230-basis-point reduction in pre-tax margin reflects a 40-basis-point decrease in gross margin, driven by a decline in Retail and Commercial gross margins, primarily due to the impact of tariffs, and a 180-basis-point increase in selling, general and administration (\u201cSG&A\u201d) expense, from higher store-level compensation, timing of marketing expenses, and general inflationary pressures.\n<\/li>\n<\/ul>\n
- \nTotal revenues were $122.7 million and increased 2.7%.\n<\/li>\n<\/ul>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20251204911474\/en\/2076743\/3\/BAB_LOGO.jpg\"){kind=logo}
<\/td>\n<\/tr>\n