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Build-A-Bear Workshop, Inc. (NYSE:BBW) shares are skyrocketing on Thursday.
The company reported fourth-quarter adjusted earnings per share of $1.34, which beats the Wall Street View of $1.32.
Revenue totaled $149.278 million, marginally missing the analyst consensus of $150.45 million. Sales increased 2.9% year over year. Consolidated e-commerce demand decreased 8.8%.
Quarterly commercial and international franchise revenues were a combined $9.1 million and increased 31.1%.
The company added three corporately-managed locations, seven partner-operated locations, and four franchised locations in the quarter.
As of the fiscal year-end, Build-A-Bear had 525 global locations through a combination of its corporately-managed, partner-operated, and international-franchise models.
Inventory at year-end was $63.5 million, reflecting a decline of $7.0 million, or 9.9%, from January 28, 2023.
As of February 3, 2024, cash and cash equivalents totaled $44.3 million.
The company declared an initial quarterly cash dividend of $0.20 per share. The dividend will be paid on April 11, 2024, to all stockholders of record as of March 28, 2024.
Outlook: The company expects FY24 total revenue growth on a low-to-mid-single-digit percentage basis.
For FY24, the company expects net new unit growth of at least 50 experience locations, through a combination of corporately-managed, partner-operated, and franchised business models.
Build-A-Bear expects pre-tax income growth on a mid-single-digit percentage basis in FY24.
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Price Action: BBW shares are trading higher by 17.85% to $29.46 on the last check Thursday.
Photo via Wikimedia Commons
Posted In: BBW
