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ST. LOUIS - Build-A-Bear Workshop, Inc. (NYSE: BBW), the iconic retailer known for its customizable stuffed animals and currently valued at $539 million, announced today the appointment of Richard ’Dick’ A. Johnson to its Board of Directors, effective immediately. According to InvestingPro data, the company maintains a GREAT financial health score, positioning it well for future growth.
Johnson brings a wealth of retail experience to the board, having retired as CEO and President of Foot Locker, Inc. in September 2022. His tenure at Foot Locker included roles as CEO, President, and Chairman of the Board, providing him with extensive knowledge of both physical and digital retail landscapes. His previous positions at Foot Locker and other companies have equipped him with a broad perspective on global retail operations.
Craig Leavitt, Non-Executive Chairman of the Board at Build-A-Bear, expressed confidence that Johnson’s expertise will contribute significantly to the company’s strategic initiatives and shareholder value creation. Johnson’s background also includes leadership roles at Graebel Van Lines, Inc., and Electronic Data Systems, as well as board positions at H&R Block, Inc., and Graebel Companies, Inc.
Johnson’s appointment comes as Build-A-Bear continues to evolve its brand, which has been a part of creating cherished memories since 1997. With over 500 company-owned, partner-operated, and franchise locations worldwide, the company has expanded its reach through e-commerce and licensing agreements. The brand’s latest campaign, "The Stuff You Love," celebrates over 25 years of Build-A-Bear’s emotional connection with consumers.
Build-A-Bear reported consolidated total revenues of $486.1 million for fiscal 2023, with current revenues reaching $495.2 million in the last twelve months, indicating its ongoing financial growth. The company’s appointment of Johnson to its Board of Directors is part of an effort to bolster its leadership team as it navigates the retail industry’s evolving landscape. InvestingPro analysis reveals the company has been aggressively buying back shares, with analysts setting price targets between $50 and $58.
This announcement is based on a press release statement from Build-A-Bear Workshop, Inc. and does not include forward-looking statements or speculative content. The company’s forward-looking statements involve risks and uncertainties, and actual results may differ materially from those projected. For comprehensive analysis and additional insights, including 10+ ProTips and detailed financial metrics, investors can access the full Build-A-Bear Workshop research report on InvestingPro.
In other recent news, Build-A-Bear Workshop reported its third-quarter 2024 earnings, significantly surpassing Wall Street expectations. The company achieved earnings per share of $0.73, which exceeded the forecast of $0.65, alongside a revenue of $119.4 million, surpassing the anticipated $113.7 million. This marks an 11% year-over-year revenue growth, highlighting the company’s strong financial performance. Additionally, Build-A-Bear plans to open at least 65 new locations in the coming year, indicating a commitment to expansion. Analysts at DA Davidson maintained a positive outlook on the company, raising the stock’s price target from $40.00 to $50.00 and reaffirming a Buy rating. This follows the company’s best-ever third-quarter performance, driven by increased store traffic and successful product launches. The company’s strategic initiatives, including new store openings and digital transformation efforts, are expected to support sustained growth. Furthermore, Build-A-Bear’s ongoing investments in marketing and strategic partnerships were noted as key factors in its continued success.
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