Build-A-Bear Workshop To Review Strategic Alternatives - Quick Facts

(RTTNews) - Build-A-Bear Workshop, Inc. (BBW) announced its Board authorized an exploration of a full range of strategic alternatives. The company retained Guggenheim Securities, LLC as its financial advisor and Bryan Cave LLP as its legal counsel to assist with the strategic review. The company said no timetable has been set for its review process.

For fiscal 2016, the Company continues to expect: total revenue to increase in the low to mid-single digit range compared to the prior year; consolidated comparable sales to increase in the low-single digit range; GAAP pre-tax income to grow 15% to 25% compared to the prior year. The company plans to expand its owned and operated locations in 2016 by adding 10 to 15 stores, net of closures.

Net income was $3.5 million, or $0.22 per share for the first quarter ended April 2, 2016, compared to net income of $6.8 million, or $0.40 per share, in the fiscal 2015 first quarter. The company said its first quarter net income was negatively impacted by the expenses related to the rollout of the new Discovery format stores and costs related to international expansion, including China.

Total revenues were $95.0 million compared to $93.4 million in the fiscal 2015 first quarter. Consolidated net retail sales were $94.1 million compared to $91.7 million, prior year. Consolidated comparable sales (stores and e-commerce) increased 2.2%.