Build-A-Bear Workshop Q1 Profit Misses Market View; Backs FY24 View; Stock Dips In Pre-market

(RTTNews) - Shares of Build-A-Bear Workshop, Inc. (BBW) were plunging more than 17 percent in pre-market activity on the NYSE after the retailer of plush animals and related products maintained Thursday its fiscal 2024 outlook after reporting weak first-quarter earnings below market.

For fiscal 2024, the company continues to expect pre-tax income growth on a low-single-digit percentage basis as well as total revenue growth on a low-to-mid-single-digit percentage basis, compared to 53-week fiscal 2023.

Compared to the 2023 non-GAAP 52-week year, the company expects growth in both annual pre-tax income and total revenue on a mid-single-digit percentage basis.

In addition, for fiscal 2024, the company currently expects net new unit growth of at least 50 experience locations, through a combination of corporately-managed, partner-operated, and franchised business models.

In its first quarter, Build-A-Bear Workshop's earnings totaled $11.46 million, or $0.82 per share. This compares with $14.61 million, or $0.98 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.4 percent to $114.73 million from $120.05 million last year.

In pre-market activity on the NYSE, Build-A-Bear shares were losing around 17.2 percent to trade at $26.50.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.