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ST. LOUIS -On Thursday, Build-A-Bear Workshop Inc . (NYSE:BBW) the stuffed animal retailer reported fourth quarter earnings and revenue that topped analyst expectations.
The company’s shares jumped 7.04% in premarket trading after the release.
The company posted adjusted earnings per share of $1.59 for the quarter ended February 1, beating the consensus estimate of $1.54. Revenue came in at $150.4 million, surpassing expectations of $148.65 million.
"Our continued record performance highlights the strength and growing appeal of the Build-A-Bear brand, as well as the progress we are making in evolving our business model," said Sharon Price John, President and CEO of Build-A-Bear Workshop.
On a GAAP basis, fourth quarter revenue increased 0.8% year-over-year to $150.4 million. Excluding an extra week of operations in the prior year period, revenue grew 5.7%. Pre-tax income rose 5.1% to $27.5 million.
For the full fiscal year 2024, Build-A-Bear reported total revenue of $496.4 million, up 2.1% from the previous year. Adjusted for the extra week, full-year revenue increased 3.6%.
The company opened 64 net new retail locations globally in fiscal 2024, including 46 partner-operated stores. Build-A-Bear ended the year with 589 total locations worldwide.
Looking ahead, Build-A-Bear expects mid-single digit revenue growth in fiscal 2025. The company anticipates opening at least 50 new experience locations globally this year through a mix of company-owned, partner-operated and franchised models.
Build-A-Bear also announced a 10% increase to its quarterly dividend, raising it to $0.22 per share.
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