Benzinga - 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.
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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