Build-A-Bear Workshop has seen record first-half results with significant growth in revenue in the second quarter and across the first half of the fiscal year.

The company’s total revenue for the second quarter increased 11.1 per cent to $124.2 million, and its pre-tax income rose 32.7 per cent to $15.3 million, marking the company’s most profitable quarter ever.

Build-A-Bear’s total revenue in the first half of the fiscal year reached a record $252.6 million, an increase of 11.5 per cent year-on-year, with its pre-tax income growing 31.5 per cent to $34.9 million, another record for the company.

“We are pleased with our record first-half results, driven by continued strong store performance and contribution margins in our direct-to-consumer segment, and double-digit revenue growth for our commercial segment, leading us to raise our revenue and profit guidance for the year,” said Sharon Price John, president and CEO of Build-A-Bear Workshop.

“Looking ahead, we remain committed to advancing our long-term strategic initiatives, with a particular focus on the global expansion of our partner-operated model.

“As a result, we have achieved a stronger-than-anticipated pace of new location openings, leading us to raise our net new unit guidance. These efforts continue while navigating the dynamic economic environment,” said John.

Moving forward, Build-A-Bear expects its total revenue to grow on a mid-to-high single-digit percentage basis, and its pre-tax income to be in the range of $62 million to $70 million.

The company plans to increase its net new unit growth from at least 50 to at least 60 experience locations through corporately managed, partner-operated, and franchised business models.