UPDATED at 4:50 p.m. with details about stock price

Shares of Overland-based Build-A-Bear Workshop dropped 27 percent today after the company reported a drop in fourth quarter sales.

The company blamed the poor performance on its product tie-ins with family movies that underperformed at the box office.

Total revenue dropped 5 percent to $119 million in the quarter. The net loss was $9 million, or 56 cents a share, compared to a profit of $8.3 million, or 42 cents a share, in the same quarter a year ago.

By the time the market closed today, the company's stock price had dropped to $5.95.

In a conference call with analysts this morning, Maxine Clark, the company's chief executive, said she was very disappointed by the fourth quarter results after sales increases in the second and third quarters.

She noted that Build-A-Bear's key holiday products were related to the movies "Happy Feet Two" and "Alvin and the Chipmunks: Chipwrecked," which did not do as well as expected at the box office. So the company stepped up promotions in the fourth quarter to try to make up for the lower-than-expected sales.

Looking forward to this year, Clark said the company will unveil a new store design that has been two years in the works. Five stores will be remodeled with this new design.

Build-A-Bear will also close 15 to 20 stores in North America to right size its portfolio, she said. Most of those stores are in markets where the company already has other stores.

The company also plans to relocate 15 stores to reduce square footage and to open four to six new stores in North America.

On the international front, the company plans to add 10 to 12 more franchised stores this year, net of store closings.