\nBuild-A-Bear Workshop, Inc. (NYSE: BBW) today announced results for the first quarter of fiscal year 2026 ended May 2, 2026.<\/p>\n
- \n
- \nFirst-quarter total revenues were $125.3 million, compared to $128.4 million<\/p>\n<\/li>\n
- \nFirst-quarter pre-tax income was $23.9 million, compared to $19.6 million; adjusted pre-tax income was $16.9 million1<\/sup><\/li>\n
- \nFirst-quarter diluted earnings per share (\u201cEPS\u201d) totaled $1.45, compared to $1.17; adjusted EPS totaled $1.03 1<\/sup><\/li>\n
- \nFor the first quarter of 2026, the Company returned $14.2 million to shareholders through share repurchases and quarterly dividends<\/p>\n<\/li>\n
- \nThe Company updates its fiscal 2026 revenue and pre-tax income outlook, incorporating revised sales expectations and tariff refund<\/p>\n<\/li>\n<\/ul>\n
\n\u201cAlthough there were positive highlights for the period, given a more uncertain economic environment, with consumer traffic posing a challenge, our results were lower-than-expected for the quarter. While we are taking steps to address this, our focus remains on executing the strategic initiatives designed to leverage the power of the Build-A-Bear brand as we transition to Chris Hurt\u2019s leadership,\u201d commented Sharon Price John, President and Chief Executive Officer of Build-A-Bear Workshop.<\/p>\n
\nChris Hurt, Chief Operations Officer and Chief Executive Officer-elect of Build-A-Bear Workshop, added, \u201cLooking to the balance of the year, we remain focused on continuing to drive long-term growth by increasing the number of experience locations across the globe, including the back-half grand opening of our new multi-level store in Orlando, and expanding our wholesale business. Even with that, when reflecting on our less-than-expected first quarter direct-to-consumer performance and the overall economic environment, we have chosen to lower our annual revenue guidance, while, notably, still maintaining a range above last year\u2019s record result. Separately, given the tariff refund, we have simultaneously increased our pre-tax outlook.\u201d<\/p>\n
\nVoin Todorovic, Chief Financial Officer of Build-A-Bear Workshop, concluded, \u201cSupported by the continued strong profitability and diversification of our business, solid cash flow generation and disciplined capital allocation enabled us to return $46 million to shareholders over the past 12 months through share repurchases and quarterly dividends, including over $14 million in the first quarter.\u201d<\/p>\n
First Quarter Fiscal 2026 Results<\/b><\/p>\n
\n(13 weeks ended May 2, 2026, compared to the 13 weeks ended May 3, 2025)<\/p>\n
- \n
- \nTotal revenues were $125.3 million and decreased 2.4%<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nNet retail sales were $113.5 million and decreased 5.1%<\/p>\n<\/li>\n
- \nConsolidated e-commerce demand (online orders fulfilled from either the Company\u2019s warehouses or its stores) decreased 26.1%<\/p>\n<\/li>\n
- \nCommercial and international franchise revenues were a combined $11.8 million and increased 34.1%<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nPre-tax income was $23.9 million, or 19.0% of total revenues, compared to $19.6 million, or 15.3% of total revenues, in the prior-year quarter. The 370-basis point increase in pre-tax margin reflects a 700-basis-point increase in gross margin, including a 560 basis-point benefit from the $7 million International Emergency Economic Powers Act (\u201cIEEPA\u201d) tariff refund related to prior fiscal year costs, with the remaining 140-basis-points primarily driven by selective price increases, and deleverage from higher occupancy costs. These gains were partially offset by a 310-basis-point increase in selling, general, and administrative expense (\u201cSG&A\u201d), mainly from higher total compensation costs, general inflationary pressures, and longer-range investments, as well as lower interest income. Excluding the $7 million tariff refund related to prior fiscal year costs, adjusted pre-tax income was $16.9 million,1<\/sup> or 13.5% of revenue.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nDiluted EPS of $1.45, compared with $1.17, reflecting higher pre-tax income and a lower share count, partially offset by a higher income tax rate. Excluding the $7 million impact from the tariff refund related to prior fiscal year costs, adjusted EPS totaled $1.03. 1<\/sup><\/li>\n<\/ul>\n
- \n
- \nEarnings before interest, taxes, depreciation and amortization (\u201cEBITDA\u201d) was $27.8 million, increased by 20.2%, and represented 22.2% of total revenues. Excluding the $7 million impact from the tariff refund related to prior fiscal year costs, adjusted EBITDA was $20.8 million, representing 16.6% of total revenues. 1<\/sup><\/li>\n<\/ul>\n
Store Activity<\/b><\/p>\n
\nFor the quarter, the Company delivered net new unit growth of seven global experience locations, comprised of one corporately-managed location, three partner-operated locations, and three franchise locations. At the end of the quarter, Build-A-Bear had 669 global locations, comprised of 376 corporately-managed locations, 181 partner-operated locations, and 112 franchise locations.<\/p>\n
Balance Sheet<\/b><\/p>\n
\nAt the end of the first quarter, cash and cash equivalents totaled $26.2 million, a decrease of $18.1 million, or 40.9%, compared to $44.3 million at the end of the first quarter last year. The Company finished the quarter with no borrowings under its revolving credit facility.<\/p>\n
\nInventory at quarter end was $77.8 million, an increase of $5.6 million, or 7.7%, mainly driven by tariffs, as well as inventory levels required to support expected increases in sales activity. The Company remains comfortable with the level and composition of its inventory.<\/p>\n
\nFor the first quarter, capital expenditures totaled $6.9 million, compared to $2.9 million last year.<\/p>\n
Return of Capital to Shareholders<\/b><\/p>\n
\nFor the first quarter, the Company utilized $11.4 million in cash to repurchase 248,118 shares of common stock and paid shareholders a $2.9 million quarterly cash dividend.<\/p>\n
\nSince the end of the first quarter through May 27, the Company has utilized $3.3 million in cash to repurchase an additional 89,966 shares of its common stock. The Company has $47.0 million remaining under the board-authorized $100.0 million stock repurchase program adopted on September 11, 2024.<\/p>\n
2026 Outlook<\/b><\/p>\n
\nThe Company updates its 2026 outlook, decreasing revenue and revising pre-tax income guidance.<\/p>\n
\nSpecifically, for fiscal 2026 the Company now expects:<\/p>\n
- \n
- \nTotal revenue of $530 million to $550 million<\/p>\n<\/li>\n
- \nPre-tax income of $72 million to $78 million<\/p>\n<\/li>\n<\/ul>\n
\nThis updated pre-tax income outlook reflects an approximately $13 million IEEPA tariff refund, partially offset by lower-than-expected operating performance. Excluding the approximately $7 million impact from the tariff refund related to prior fiscal year costs, for fiscal 2026 the Company expects adjusted pre-tax income of $65 million to $71 million.1<\/sup><\/p>\n
\nOur outlook also reflects approximately $10 million of ongoing Section 122 tariffs and related costs, assuming the current 10% tariff rate remains in effect for the balance of the year, as well as approximately $3 million in longer-range investments.<\/p>\n
\nIn addition, for fiscal 2026, the Company continues to expect:<\/p>\n
- \n
- \nNet new unit growth of at least 50 experience locations through a combination of corporately-managed, partner-operated, and franchise business models<\/p>\n<\/li>\n
- \nCommercial revenue growth of at least 20%<\/p>\n<\/li>\n
- \nCapital expenditures of $22 million to $25 million<\/p>\n<\/li>\n
- \nDepreciation and amortization to approximate $16 million<\/p>\n<\/li>\n
- \nIncome tax rate to approximate 24%, excluding discrete items<\/p>\n<\/li>\n<\/ul>\n
\nThe Company\u2019s outlook considers various factors, including tariffs, labor costs, changes in freight expense, and ongoing inflationary challenges. Separately, the Company\u2019s outlook does not contemplate any further material changes in the geopolitical environment, macroeconomic conditions, relevant foreign currency exchange rates, or tariffs, including the timing and amount of tariff refund recoveries.<\/p>\n
\n
\n \n _______________________________<\/sup><\/p>\n
1<\/sup> See supplemental schedules for additional information, including the GAAP and Non-GAAP reconciliations.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Note Regarding Non-GAAP Financial Measures<\/b><\/p>\n
\nIn this press release, the Company\u2019s financial results are provided 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.<\/p>\n
Webcast and Conference Call Information<\/b><\/p>\n
\nToday, at 9:00 a.m. 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 at https:\/\/IR.buildabear.com<\/a>.<\/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 \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n 13 Weeks<\/b><\/td>\n \n \n \n \n 13 Weeks<\/b><\/td>\n \n <\/tr>\n \n \n \n \n \n \n \n \n Ended<\/b><\/td>\n \n \n \n \n Ended<\/b><\/td>\n \n <\/tr>\n \n \n \n \n \n \n \n \n May 2,<\/b><\/td>\n \n % of Total<\/b><\/td>\n \n \n May 3,<\/b><\/td>\n \n % of Total<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n 2026<\/b><\/p>\n<\/td>\n
\n Revenues(1)<\/sup><\/b><\/td>\n \n \n \n 2025<\/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 \n Net retail sales<\/td>\n $<\/td>\n \n \n113,466<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n90.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n119,589<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n93.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Commercial revenue<\/td>\n \n \n \n10,948<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n8.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n7,623<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n5.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n International franchising revenue<\/td>\n \n \n \n856<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n0.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n1,183<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n1.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Total revenues<\/td>\n \n \n \n125,270<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n100.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n128,395<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n100.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Costs and expenses:<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Cost of merchandise sold – retail (1)<\/sup><\/td>\n \n \n \n40,338<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n35.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n51,571<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n43.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Cost of merchandise sold – commercial (1)<\/sup><\/td>\n \n \n \n4,419<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n40.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n3,014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n39.5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Cost of merchandise sold – international franchising (1)<\/sup><\/td>\n \n \n641<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n74.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n824<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n69.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n Total cost of merchandise sold<\/td>\n \n \n \n45,398<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n36.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n55,409<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n43.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Consolidated gross profit<\/td>\n \n \n \n79,872<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n63.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n72,986<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n56.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Selling, general and administrative expense<\/td>\n \n \n \n56,126<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n44.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n53,555<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n41.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Interest expense (income), net<\/td>\n \n \n \n(134<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n(0.1<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n \n(200<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n(0.2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Income before income taxes<\/td>\n \n \n \n23,880<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n19.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n19,631<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n15.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Income tax expense<\/td>\n \n \n \n5,581<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n4.5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n4,312<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n3.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Net income<\/td>\n $<\/td>\n \n \n18,299<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n14.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n15,319<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n11.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \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 \n Basic<\/td>\n $<\/td>\n \n \n1.45<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n $<\/td>\n \n \n1.17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n <\/tr>\n \n \n Diluted<\/td>\n $<\/td>\n \n \n1.45<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n $<\/td>\n \n \n1.17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n <\/tr>\n \n Shares used in computing common per share amounts:<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n Basic<\/td>\n \n \n \n12,584,388<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n \n \n13,080,301<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n <\/tr>\n \n \n Diluted<\/td>\n \n \n \n12,638,710<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n \n \n13,144,243<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n(1)<\/p>\n<\/td>\n
Selected statement of operations data expressed as a percentage of total revenues, except cost of merchandise sold – retail, cost of merchandise sold – commercial and cost of merchandise sold – international franchising that are expressed as a percentage of net retail sales, commercial revenue and international franchising revenue, respectively. Percentages will not total due to cost of merchandise sold being expressed as a percentage of net retail sales, commercial revenue or international franchising revenue and immaterial rounding.<\/td>\n<\/tr>\n<\/table>\n \n
\n BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n \n Unaudited Condensed Consolidated Balance Sheets<\/b><\/td>\n<\/tr>\n \n (dollars in thousands, except per share data)<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n May 2,<\/b><\/td>\n \n January 31,<\/b><\/td>\n May 3,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n ASSETS<\/b><\/td>\n<\/tr>\n \n Current assets:<\/td>\n \n \n \n <\/tr>\n \n \n Cash, cash equivalents and restricted cash<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n26,247<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n26,755<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n44,342<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Inventories, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n77,806<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n82,203<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n72,299<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Receivables, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n31,630<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n21,459<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n13,800<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Prepaid expenses and other current assets<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n12,149<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n9,603<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n12,156<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Total current assets<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n147,832<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n140,020<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n142,597<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Operating lease right-of-use asset<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n119,622<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n121,129<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n92,699<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Property and equipment, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n73,778<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n70,926<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n59,260<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Deferred tax assets<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n7,243<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n7,370<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,667<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Other assets, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,610<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n6,008<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6,080<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Total Assets<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n354,085<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n345,453<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n308,303<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/td>\n<\/tr>\n \n Current liabilities:<\/td>\n \n \n \n <\/tr>\n \n \n Accounts payable<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n15,994<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n15,318<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n15,890<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Accrued expenses<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n33,932<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n26,104<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24,273<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating lease liability short term<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n28,276<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n28,651<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n26,507<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Gift cards and customer deposits<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n14,260<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n15,289<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14,851<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Deferred revenue and other<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n4,142<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n5,264<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,830<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Total current liabilities<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n96,604<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n90,626<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n85,351<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Operating lease liability long term<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n97,414<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n98,647<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n72,957<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Other long-term liabilities<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,048<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1,152<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,313<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Stockholders’ equity:<\/td>\n \n \n \n <\/tr>\n \n \n Common stock, par value $0.01 per share<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n126<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n128<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n132<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Additional paid-in capital<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n59,919<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n60,821<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n61,602<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Accumulated other comprehensive loss<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(10,939<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(10,760<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(11,295<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n Retained earnings<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n109,913<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n104,839<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n98,243<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Total stockholders’ equity<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n159,019<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n155,028<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n148,682<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Total Liabilities and Stockholders’ Equity<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n354,085<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n345,453<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n308,303<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/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 \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n 13 Weeks<\/b><\/td>\n \n 13 Weeks<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n Ended<\/b><\/td>\n \n Ended<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n May 2,<\/b><\/td>\n \n May 3,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n 2026<\/b><\/p>\n<\/td>\n
\n \n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other financial data:<\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Retail gross margin ($) (1)<\/sup><\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n73,128<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n68,018<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n Retail gross margin (%) (1)<\/sup><\/td>\n \n \n \n64.4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n \n56.9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n Capital expenditures (2)<\/sup><\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n6,869<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n2,907<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n Depreciation and amortization<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n4,002<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n3,700<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\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 <\/tr>\n \n \n \n Number of corporately-managed retail locations at end of period<\/td>\n \n <\/tr>\n \n \n \n \n North America<\/td>\n \n \n \n334<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n328<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Europe<\/td>\n \n \n \n42<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n41<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Total corporately-managed retail locations<\/td>\n \n \n376<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n369<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Number of franchise stores at end of period<\/td>\n \n \n112<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n96<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Number of third-party retail locations at end of period<\/td>\n \n \n181<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n148<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Corporately-managed store square footage at end of period (4)<\/sup><\/td>\n \n <\/tr>\n \n \n \n \n North America<\/td>\n \n \n \n748,434<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n733,675<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Europe<\/td>\n \n \n \n58,166<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n57,015<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n Total square footage<\/td>\n \n \n \n806,600<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n790,690<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n(1)<\/p>\n<\/td>\n
\n 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. Store impairment is excluded from retail gross margin.<\/td>\n<\/tr>\n \n \n \n(2)<\/p>\n<\/td>\n
\n Capital expenditures represents cash paid for property, equipment, and other assets.<\/td>\n<\/tr>\n \n \n \n(3)<\/p>\n<\/td>\n
\n Excludes e-commerce. North American stores are located in the United States, Puerto Rico 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)<\/p>\n<\/td>\n
\n Square footage for stores located in North America is leased square footage. Square footage for stores located in Europe is estimated selling square footage. Seasonal locations not included in the store count.<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n * Non-GAAP Financial Measures<\/b><\/p>\n<\/td>\n
\n \n <\/tr>\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 except per share data)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n The following table provides a reconciliation of pre-tax income to adjusted pre-tax income for the periods indicated:<\/td>\n <\/tr>\n \n \n \n \n 13 Weeks<\/b><\/td>\n \n 13 Weeks<\/b><\/td>\n<\/tr>\n \n \n \n \n Ended<\/b><\/td>\n \n Ended<\/b><\/td>\n<\/tr>\n \n \n \n \n May 2,<\/b><\/td>\n \n May 3,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Income before income taxes (pre-tax)<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n23,880<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n19,631<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n IEEPA tariff refund related to fiscal 2025(1)<\/sup><\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(7,000<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted income before income taxes (pre-tax)<\/b><\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n16,880<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n19,631<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n The following table provides a reconciliation of net income to adjusted net income and net income per diluted share to adjusted net income per diluted share for the periods indicated:<\/td>\n<\/tr>\n \n \n \n \n 13 Weeks<\/b><\/td>\n \n 13 Weeks<\/b><\/td>\n<\/tr>\n \n \n \n \n Ended<\/b><\/td>\n \n Ended<\/b><\/td>\n<\/tr>\n \n \n \n \n May 2,<\/b><\/td>\n \n May 3,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Net income<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n18,299<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n15,319<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n IEEPA tariff refund related to fiscal 2025, tax affected(2)<\/sup><\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(5,338<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted net income<\/b><\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n12,961<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n15,319<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income per diluted share (EPS)<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1.45<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1.17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Adjusted net income per diluted share (adjusted EPS)<\/b><\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1.03<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n1.17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n The following table provides a reconciliation of pre-tax income to Earnings before interest, taxes, depreciation and amortization (EBITDA) and Adjusted EBITDA for the periods indicated:<\/td>\n<\/tr>\n \n \n \n \n 13 Weeks<\/b><\/td>\n \n 13 Weeks<\/b><\/td>\n<\/tr>\n \n \n \n \n Ended<\/b><\/td>\n \n Ended<\/b><\/td>\n<\/tr>\n \n \n \n \n May 2,<\/b><\/td>\n \n May 3,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Income before income taxes (pre-tax)<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n23,880<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n19,631<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n Interest (income) expense, net<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(134<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(200<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n Depreciation and amortization expense<\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n4,002<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n3,700<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n EBITDA<\/b><\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n27,748<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n23,131<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Adjustments to EBITDA<\/td>\n \n \n <\/tr>\n \n \n \n IEEPA tariff refund related to fiscal 2025(1)<\/sup><\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(7,000<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n–<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted EBITDA<\/b><\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n20,748<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n23,131<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n The following table provides a reconciliation of fiscal 2026 pre-tax income outlook to Adjusted pre-tax income outlook:<\/td>\n<\/tr>\n \n \n \n \n Fiscal 2026 outlook<\/b><\/td>\n<\/tr>\n \n Income before income taxes (pre-tax)<\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n72,000<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n78,000<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n IEEPA tariff refund related to fiscal 2025(1)<\/sup><\/td>\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(7,000<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n(7,000<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n Adjusted income before income taxes (pre-tax)<\/b><\/td>\n \n \n$<\/p>\n<\/td>\n
\n \n65,000<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n$<\/p>\n<\/td>\n
\n \n71,000<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n (1)<\/sup><\/p>\n<\/td>\n
\n Relates to tariff refund attributable mainly to the second half of fiscal 2025<\/td>\n \n \n <\/tr>\n \n \n (2)<\/sup><\/p>\n<\/td>\n
\n Relates to tariff refund attributable mainly to the second half of fiscal 2025 net of income tax effect<\/td>\n \n <\/tr>\n<\/table>\n \n\u00a0<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260528457773\/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> Other Consumer Parenting Children Entertainment Specialty General Entertainment Family Consumer Retail Online Retail<\/p>\n
- \nEarnings before interest, taxes, depreciation and amortization (\u201cEBITDA\u201d) was $27.8 million, increased by 20.2%, and represented 22.2% of total revenues. Excluding the $7 million impact from the tariff refund related to prior fiscal year costs, adjusted EBITDA was $20.8 million, representing 16.6% of total revenues. 1<\/sup><\/li>\n<\/ul>\n
- \nDiluted EPS of $1.45, compared with $1.17, reflecting higher pre-tax income and a lower share count, partially offset by a higher income tax rate. Excluding the $7 million impact from the tariff refund related to prior fiscal year costs, adjusted EPS totaled $1.03. 1<\/sup><\/li>\n<\/ul>\n
- \nPre-tax income was $23.9 million, or 19.0% of total revenues, compared to $19.6 million, or 15.3% of total revenues, in the prior-year quarter. The 370-basis point increase in pre-tax margin reflects a 700-basis-point increase in gross margin, including a 560 basis-point benefit from the $7 million International Emergency Economic Powers Act (\u201cIEEPA\u201d) tariff refund related to prior fiscal year costs, with the remaining 140-basis-points primarily driven by selective price increases, and deleverage from higher occupancy costs. These gains were partially offset by a 310-basis-point increase in selling, general, and administrative expense (\u201cSG&A\u201d), mainly from higher total compensation costs, general inflationary pressures, and longer-range investments, as well as lower interest income. Excluding the $7 million tariff refund related to prior fiscal year costs, adjusted pre-tax income was $16.9 million,1<\/sup> or 13.5% of revenue.<\/p>\n<\/li>\n<\/ul>\n
- \nFirst-quarter diluted earnings per share (\u201cEPS\u201d) totaled $1.45, compared to $1.17; adjusted EPS totaled $1.03 1<\/sup><\/li>\n
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<\/td>\n<\/tr>\n