Record-Breaking Revenue and Growth
Build-A-Bear reported the best first quarter results in its history with a revenue increase of 11.9% to over $128 million. Pre-tax income grew by 30.6% to nearly $20 million and EPS increased by 42.7% to $1.17.
Global Expansion Success
Build-A-Bear expanded its international presence to 30 countries, opening 15 net new experience locations in the first quarter, including a new corporate store in Dublin, Ireland. The company plans to open at least 50 net new locations in 2025.
Strong Retail and E-commerce Performance
Retail sales increased by 10.9% to $119.6 million, with positive results across all metrics: traffic, conversion, average unit retail, and units per transaction. E-commerce demand increased by 0.5%.
Successful Product Launches
The Mini Beans collection, launched in February 2024, saw a 30% year-over-year expansion, with nearly 2 million units sold. The collection helps increase conversion and acts as a basket builder.
Margin Expansion
Gross margin improved to 56.8%, an increase of 260 basis points from the previous year, benefiting from improved merchandise margin and lower discounts.