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Build-A-Bear Workshop, Inc. (NYSE: BBW) is the world’s leading interactive retail-entertainment company, dedicated to helping guests create personalized stuffed animals and lifelong memories. Founded in 1997, Build-A-Bear has grown to operate over 400 stores globally, including company-owned locations in the United States, Puerto Rico, Canada, the United Kingdom, Ireland, Denmark, and franchise stores across Europe, Asia, Australia, Africa, the Middle East, and Mexico.
The company's core business revolves around its unique retail experience, allowing guests to craft their own stuffed animals by choosing and customizing every aspect, from the type of animal to its outfits and accessories. Build-A-Bear's Direct-to-Consumer segment, which includes its e-commerce site and temporary retail locations, generates the largest portion of the company’s revenue. The International Franchising segment oversees franchise agreements across the aforementioned regions, while the Commercial segment handles licensing of intellectual properties and wholesale activities.
In addition to traditional retail, Build-A-Bear has expanded its brand presence through its online
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.
Build-A-Bear Workshop (NYSE: BBW) is celebrating National Teddy Bear Day on September 9, 2024, with special offers and charitable initiatives. The company will offer its popular Lil' Cub teddy bears for just $9, rolling back prices to 1997 levels. This promotion will be available at participating Workshops and online.
In addition to the special offer, Build-A-Bear Foundation will donate 10,000 teddy bears to children in need, contributing to their 2024 goal of providing 100,000 bears to kids. The company, which has sold over 240 million furry friends worldwide, continues its mission to 'add a little more heart to life' through these initiatives.
Customers can personalize their Lil' Cub bears with various outfits, accessories, sounds, and scents. In-store activities will include meet-and-greets with the brand's mascot, Bearemy, to enhance the celebration of this special day.
Build-A-Bear Workshop (NYSE: BBW) reported strong Q2 fiscal 2024 results, with revenues up 2.4% to $111.8 million and diluted EPS increasing 12.3% to $0.64. The company reaffirmed its fiscal 2024 guidance, expecting growth in total revenues and pre-tax income. Key highlights include:
- Pre-tax income rose 10.2% to $11.5 million
- EBITDA increased 10.7% to $15.0 million
- Net new unit growth of 17 global experience locations
- $23.9 million returned to shareholders through share repurchases and dividends in H1
Despite challenges in web demand, Build-A-Bear's omni-channel strategy and global expansion continue to drive profitability. The company maintains a strong balance sheet with no borrowings under its credit facility.
Build-A-Bear Workshop (NYSE: BBW) has announced an exclusive 50th Anniversary Hello Kitty® make-your-own plush and plans for a first-of-its-kind Build-A-Bear x Hello Kitty® and Friends Workshop in Los Angeles. This collaboration with Sanrio® marks a new chapter in their longstanding relationship, which has driven lifetime sales of over three million Hello Kitty and Friends themed plush items.
The new Workshop, set to open in Westfield Century City, aims to capitalize on the ongoing fandom and the rising trend of 'kidulting'. The -edition Hello Kitty plush features sparkly accents and a festive dress, making it a collector's item. This initiative aligns with Build-A-Bear's strategy to expand its global retail footprint and extend its market to include teens and adults.
Build-A-Bear Workshop (NYSE: BBW) has announced its plans to release second quarter fiscal 2024 results on August 29, 2024, before the New York Stock Exchange opens. The company will host an investor conference call at 9 a.m. ET on the same day to discuss the results. Investors can access the call via phone or live internet broadcast on the company's investor relations website. The call is expected to conclude by 10 a.m. ET.
For those unable to attend the live call, a replay will be available. The conference call webcast replay will be accessible on the investor relations website for one year, while a telephone replay will be available from approximately 1:00 p.m. ET on August 29, 2024, until 11:59 p.m. ET on September 5, 2024.
Build-A-Bear Workshop (NYSE: BBW) is accelerating the launch of its Halloween collection due to an unauthorized product leak that sparked significant social media excitement. The collection includes exclusive licensed products, updated Mini Beans, and the return of Pumpkin Kitty. Pumpkin Kitty, originally introduced in 2008 and re-released in 2023, has a waitlist of nearly 25,000 fans. The company is capitalizing on the growing popularity of Halloween, with July 2024 Halloween-related searches on buildabear.com up 400% compared to 2023. Build-A-Bear plans to introduce additional offerings, including a new glow-in-the-dark collection of furry friends later in the season.
Build-A-Bear Workshop (NYSE: BBW) is launching a Birthday Blitz promotion throughout August, offering a free party package for the birthday Guest of Honor when booking a party for five or more guests. This offer, valid for parties booked in August and held before January 31, 2025, celebrates the company surpassing 25 million Workshop birthdays.
Key points:
- August is the month when most people are born, according to U.S. statistics
- Party packages for other attendees start at $20 per person
- Birthdays account for about one-third of Build-A-Bear's total retail business
- The promotion aims to create unforgettable memories and celebrate the joy of birthdays
Build-A-Bear continues to offer its special Heart Ceremony, engaging games, and personalized experiences for various occasions beyond birthdays.
Build-A-Bear Workshop (NYSE: BBW) is launching its first-ever 'Stuff You Love Cub Condo Event' on July 16, 2024, at participating U.S. and Canada locations. Bonus Club members can enjoy a 20% discount on purchases when they fill a Cub Condo box with a Make-Your-Own furry friend, clothing, and accessories. This exclusive in-store event offers an experiential alternative to virtual shopping, allowing guests to create and customize teddy bears with various outfits and accessories at a special value.
To participate, adults must enroll in the free Build-A-Bear Bonus Club or provide a valid email address. The event has a limit of 10 stuffed Cub Condos per person, and the offer cannot be combined with other promotions. Bonus Club members unable to visit a physical store can enjoy free shipping on online purchases.
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