Build-A-Bear reports wider 2Q losses on declining sales

Build-A-Bear reports wider 2Q losses on declining sales

Build-A-Bear Workshop reported wider losses and lower revenue in the second quarter.

Net loss for the period ended July 2 rose to $4.3 million, or 28 cents per share, the Overland-based retailer said Thursday. That compared unfavorably to a loss of $628,000, or 4 cents per share, in the year-earlier period.

Revenue fell 7.3 percent to $75.1 million.

Consolidated comparable sales (stores and e-commerce) decreased 8.6 percent in the recent quarter. That compared unfavorably with an 8.8 percent increase in comparable sales in the fiscal 2015 second quarter.

“In the quarter, we continued to focus on executing our strategy of positioning our stores and company to achieve our long term sales and profitability goals," Sharon Price John, president and CEO, said in a statement. "With that in mind, our results included an anticipated decline in consolidated comparable sales given the strength of last year’s Minions collection and an expected pre-tax loss within our guidance, inclusive of the unexpected negative foreign exchange impact."

                   

“Our Discovery format stores continued to deliver positive results compared to our heritage stores on key metrics including sales growth and contribution margin. This positive performance, along with our strong merchandise lineup in the second half, positions us to achieve pre-tax income expansion for fiscal 2016 of 15 percent to 25 percent, which excludes the impact of foreign exchange given that we are unable to predict future fluctuations,” John said.

Build-A-Bear shares fell 72 cents, or 5.7 percent, to close Thursday at $12.

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