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Build-A-Bear Workshop, Inc. (NYSE:BBW) shares are trading higher after the company reported better-than-expected fourth-quarter results.
What to Know: On Thursday before market open, Build-A-Bear Workshop reported its fourth-quarter results for the period that ended Jan. 28, 2022. The company also provided its guidance for 2023.
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The Details: Build-A-Bear reported quarterly earnings of $1.30, representing an earnings surprise of 16.1%. The company reported quarterly sales of $145.11 million, representing an earnings surprise of 5.5%. Build-A-Bear's favorable earnings numbers were driven by strong commercial and international growth and a 30.3% increase in pre-tax profits.
Considering macroeconomic factors such as ongoing inflationary pressures, Build-A-Bear provided insight into how it believes it will perform in 2023, expecting 5-7% revenue growth, pre-tax income growth of 10%-15%, and 20-30 store openings throughout fiscal 2023.
Sharon Price John, Build-A-Bear Workshop President, and CEO commented, "We believe the fundamental catalyst of our positive performance has been the ongoing disciplined execution of our multi-year strategic plan which positions us to further scale our business and generate profitable growth in 2023 and beyond.”
Build-A-Bear is a multi-generational global brand focused on its mission to "add a little more heart to life" appealing to a wide array of consumer groups who enjoy the personal expression in making their own "furry friends" to celebrate and commemorate life moments.
According to data from Benzinga Pro, Build-A-Bear Workshop shares were up 24.4%, trading at $25.62 at the time of publication. The stock has a 52-week high of $26.87 and a 52-week low of $12.47.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.