Build-A-Bear Workshop’s net income grew in the fiscal third quarter amid the opening of new stores in more locations.
The toy shop’s net income surged 30.1 per cent to $9.9 million while revenue went up 11 per cent to $119.4 million.
During the three-month period to November 2, the company posted net new unit growth of 17 global experience locations, comprised of one corporately managed location and 16 partner-operated locations.
“The company continues to prioritize its long-term strategic initiatives, particularly expanding its global retail presence,” said Sharon Price John, Build-A-Bear Workshop president and CEO.
“Since reigniting this initiative, Build-A-Bear has broadened its international footprint to over 20 countries, opening experience locations in six new markets this past quarter.”
For the full fiscal year, the company expects revenue of $489 million to $495 million and the opening of at least 65 net new experience locations.