Build-A-Bear Workshop, Inc. - BBW STOCK NEWS

Build-A-Bear Workshop (NYSE: BBW) announces the opening of its first Build-A-Bear x Hello Kitty® and Friends Workshop on November 15, 2024, at Westfield Century City in Los Angeles. This collaborative retail experience celebrates Hello Kitty's 50th anniversary and features exclusive products and personalized experiences. The partnership highlights the success of Build-A-Bear's Sanrio® collection, which has generated lifetime sales of over three million Hello Kitty® and Friends themed plush items. The store will offer exclusive Hello Kitty® and Friends merchandise, custom pink birth certificates, and special opening day festivities including a ribbon-cutting ceremony with Hello Kitty. Additionally, Build-A-Bear is launching exclusive holiday designs featuring Hello Kitty® and other Sanrio® characters.

Build-A-Bear Workshop (NYSE: BBW) has appointed Kim Utlaut as Senior Vice President and Chief Brand Officer. Utlaut, who previously served as General Manager for Franchise Leadership at The Coca-Cola Company, brings over 20 years of brand marketing expertise. In her new role, she will lead the company's brand and communications strategy, focusing on strengthening consumer relationships across multiple revenue streams. The appointment comes as Build-A-Bear celebrates three consecutive record-setting years, with recent expansions including a growing global retail footprint and continued digital transformation. Utlaut will report to Chief Operations Officer Chris Hurt and leverage her experience from strategic partnerships with organizations like NCAA and U.S. Soccer.

Build-A-Bear Workshop (NYSE: BBW) has announced a collaboration with Varsity Spirit, the global leader in cheerleading apparel and events. This partnership aims to capitalize on the growing popularity of cheerleading, which currently has over 3 million participants in the United States. The collaboration includes:

1. Exclusive products featuring Varsity Spirit uniform designs
2. Pop-up shops at Varsity Spirit national events
3. Varsity-themed parties at Build-A-Bear Workshops

The initiative is designed to offer fans and cheerleading squads unique experiences that celebrate team spirit and strengthen connections. Build-A-Bear pop-up shops will be present at Varsity Spirit events, which can attract up to 20,000 attendees. The new product line is now available in participating Build-A-Bear Workshops and online.

Build-A-Bear Workshop (NYSE: BBW) is launching an expanded Halloween collection for 'OctoBEAR,' catering to a growing adult consumer base. The new line includes products inspired by Disney Tim Burton's 'The Nightmare Before Christmas' and Día de los Muertos bears. On October 1st, participating stores will offer the highly anticipated Pumpkin Kitty, which previously sold out online and generated a 55,000-person waitlist.

The company is tapping into the 'kidulting' trend, with up to 40% of its consumer base now comprising teens and adults. This trend has become the largest industry segment, surpassing the 3-5 year old demographic in revenue. Build-A-Bear's CEO, Sharon Price John, noted an increasing affinity for Halloween offerings and a significant rise in teen and adult sales, influencing product decisions, particularly for 'The Bear Cave' age-gated website area.

Build-A-Bear Workshop (NYSE: BBW) has launched its first-ever Bluey collection in partnership with BBC Studios. The collection features make-your-own plush toys of Bluey and Bingo, along with accessories like Granny Janet and Granny Rita costumes, sleepers, and t-shirts. Fans can also add the Bluey theme song or character phrases to their plush.

The launch follows Bluey's success as the No. 1 most-watched series on streaming in the U.S. in 2024. With a pre-existing waitlist of nearly 50,000 names, the initial collection is expected to sell out quickly. The Bluey plush toys and accessories are available in participating Build-A-Bear Workshops and online.

This collaboration expands Build-A-Bear's relationship with BBC Studios, which began with Doctor Who. It aims to cater to both younger and older fans of the popular TV show, reflecting Build-A-Bear's multi-generational appeal and commitment to branded collaborations.

Build-A-Bear Workshop (NYSE: BBW) has announced the release of a new board book titled 'Friends Forever'. Created in collaboration with Odd Dot, an imprint of Macmillan Children's Publishing Group, the book invites readers on an adventure inside Build-A-Bear Workshop. The book features a spinning wheel cover allowing readers to create different animals before exploring the Workshop story.

The company will celebrate the launch with special story time events on October 2 and 9 at participating Workshops. These events will include interactive games and activities, as well as the opportunity for children to create their own furry friend. Build-A-Bear and Odd Dot are expected to release another book, 'A Wish from the Heart', later this year.

Build-A-Bear Foundation, the company's non-profit organization, aims to donate 100,000 books in 2024 as part of its commitment to advancing childhood literacy.

Build-A-Bear Workshop (NYSE: BBW) has appointed David Henderson as Chief Revenue Officer, effective September 16, 2024. Henderson will focus on driving profitable growth across the company's retail and e-commerce channels, while exploring expansion opportunities beyond traditional areas. He will also oversee warehouse operations and contribute to strategic management.

Henderson brings over two decades of experience in the toy, consumer products, and entertainment industries. His most recent role was Chief Commercial Officer at Melissa & Doug. Previously, he served as President and General Manager-Global of Baby Gear at Newell Brands and held leadership positions at Hasbro, including Senior Vice President Consumer Products/Licensing North America.

This strategic appointment aims to support Build-A-Bear's focus on sustained profitable growth and brand monetization. CEO Sharon Price John expressed confidence in Henderson's ability to contribute to the company's record-setting results and long-term strategic initiatives.

Build-A-Bear Workshop (NYSE: BBW) has announced a new $100 million share repurchase program and declared a quarterly cash dividend of $0.20 per share. The dividend will be paid on October 10, 2024, to stockholders of record as of September 26, 2024. This new program replaces the previous $50 million repurchase program, under which the company bought back over 1.9 million shares at an average price of $23.05 per share.

The new repurchase program, authorized through September 30, 2028, will be primarily funded by cash on hand. Since 2021, Build-A-Bear has returned more than $115 million to shareholders through repurchases and dividends, demonstrating the Board's confidence in the company's strategy and future prospects.

Build-A-Bear Workshop, Inc. (NYSE: BBW) has announced an exclusive multi-year partnership with the Kansas City Chiefs, the back-to-back Super Bowl champions. This deal makes Build-A-Bear the 'official bear' brand of the team and includes presenting partnerships for the team mascot 'KC Wolf' and the Chiefs digital Fan Cam experience. Additionally, Build-A-Bear has expanded its 20-year NFL licensed co-branded product lineup to include every NFL team.

The company is launching an amplified marketing effort, including 'Jersey Thursdays' where fans can receive a 10% discount on in-store purchases by wearing their favorite NFL team jersey. This partnership aligns with Build-A-Bear's growth strategy, appealing to a broadening consumer demographic that now includes 'kidults' representing up to 40% of the business.