Build-A-Bear Workshop achieved record revenue of $496.4 million last year, up 2.1 per cent, amid net new unit growth of 64 global ‘experience locations’.

The company’s net retail sales climbed 0.9 per cent to $460.3 million while commercial revenue soared 23.5 per cent to $31.4 million and international franchising revenue jumped 3.4 per cent to $4.7 million.

However, net income declined 1.9 per cent to $51.8 million.

“Our continued record performance highlights the strength and growing appeal of the Build-A-Bear brand, as well as the progress we are making in evolving our business model,” said Sharon Price John, Build-A-Bear Workshop president and CEO.

“The company continues prioritizing its long-term strategic initiatives, particularly broadening its global retail footprint. This year, Build-A-Bear launched 64 net new retail units, the majority of which were asset-light partner-operated locations, increasing its international presence to more than 25 countries.”

For the current year, the company forecasts mid-single-digit revenue growth rate and net new unit growth of at least 50 experience locations.