Build-A-Bear Workshop Inc BBW reported third-quarter FY23 sales growth of 2.9% year-on-year to $107.6 million, missing the analyst consensus of $108.1 million.
The American retailer's EPS of $0.53 beat the Street view of $0.51.
Net retail sales rose 1.2% Y/Y, and e-commerce demand increased 7.1%.
Gross profit increased 4.2% Y/Y to $56.6 million. The gross margin of 52.7% expanded by 70 basis points Y/Y.
The company held $24.8 million in cash and equivalents.
As of Q3, the company had 511 global locations through its corporately-managed, partner-operated, and international franchise models.
Inventory at quarter end was $64.5 million, reflecting a decline of $23.9 million, or 27.0%, from October 29, 2022.
CEO Sharon Price John said, "The Bearlieve Bear is a cornerstone of our holiday product line, driven by Build-A-Bear's first-ever animated theatrical film release, "Glisten and the Merry Mission," based on our multi-year best-selling seasonal line, which will begin streaming in multiple countries starting December first."
Outlook: Build-A-Bear expects FY23 revenues to increase by 3%-5% (prior 5%-7%). The company expects FY23 capital expenditure of $16 million to $18 million (prior $15 million to $20 million).
Price Action: BBW shares traded lower by 10.90% at $22.79 in premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.