logo
Plus   Neg
Share
Email

Build-A-Bear Workshop Sees Lower Revenue, EBIT In Q4 - Quick Facts

Build-A-Bear Workshop, Inc. (BBW), a specialty retailer of plush animals and related products, on Monday provided its financial outlook for the fourth quarter and fiscal year 2020, ahead of its planned presentation at the 23rd Annual ICR Conference.

For the fourth quarter, Build-A-Bear Workshop forecast total revenues in the range of $88.0 million to $92.0 million, down from $104.6 million in the year-ago quarter.

The company noted it had a significant reduction in store traffic during the nine-week holiday period ending January 2, 2021 driven by local COVID-19 restrictions which led to an 18 percent reduction in store operating days. This includes a decline of 10 percent in North America and 66 percent in the United Kingdom.

The company projects earnings before interest and taxes or EBIT for the fourth quarter in a range of $4.0 million to $6.0 million, compared to $7.6 million in the prior-year quarter.

However, Build-A-Bear Workshop forecast cash and cash equivalents at quarter end to be between $32 and $37 million, an increase of approximately $5 to $10 million from the prior year's quarter end, and it expects to have no borrowings under its revolving credit facility at the end of the period.

The company expects to report full results for the fourth quarter and fiscal 2020 year in March, 2021.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Drug major Johnson & Johnson's single-shot COVID-19 vaccine is safe and effective as per the trial data submitted for Emergency Use Authorization, the US Food and Drug Administration said. The vaccine, known as Ad26.COV2.S, was found to prevent severe disease and death from Covid. The vaccine's EUA will be decided in a vote by FDA's vaccine advisory panel on Friday. Best Buy Co., Inc. is offering paid time off as vaccine benefit to all its employees amid the ongoing vaccinations against coronavirus. The company also announced bonuses to its hourly employees as a gratitude for the resilience shown by them as frontline workers during the crisis. The electronics retailer said it is offering paid time off for any employee who gets a COVID-19 vaccination. Entertainment company Walt Disney Co.'s exclusive streaming service Disney+ has added more content with the addition of the Star brand which launched today on the platform across Australia, New Zealand, Canada, and Europe. Disney+ with Star also launched today in Singapore, the first market to launch with the new general entertainment brand.
Follow RTT