By Ezequiel Minaya
Build-a-Bear Workshop Inc. reported losses on Thursday for its
latest quarter, hurt by currency headwinds, though results were
better than expected.
License products had powered sales growth recently, representing
a turnaround from a string of disappointing quarters as the
company's novelty faded. Build-a-Bear allows customers to build
their own stuffed animals.
The company got a boost from products linked to the popular Walt
Disney Co. animated movie "Frozen" and the "Teenage Mutant Ninja
Turtles" franchise. The company also has sought to renew its focus
on high-traffic tourist markets.
On Thursday, the company reported a loss of $628,000, or four
cents a share, for the latest quarter, narrower than its loss of
$4.3 million, or 25 cents per share, a year earlier. Excluding
certain items, per-share losses narrowed to five cents from 24
cents a year ago.
Revenue grew 6.3% to $81 million, offset by a hit of $1.6
million linked to foreign-exchange volatility.
Analysts surveyed by Thomson Reuters had expected a per-share
loss of 17 cents on revenue of $76 million.
For the quarter, Build-A-Bear said its same-store sales grew
8.7%, including a 6.5% increase in North America and a 18.2%
increase in Europe.
During the second quarter ended in July, the company also
repurchased about 373,000 shares for $6.2 million, leaving around
$800,000 available under the $10 million share-repurchase program
it had adopted in February.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
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