ST. LOUIS — Build-A-Bear Workshop has followed two years of record growth with another quarter of record growth, the company said in an earnings call Thursday.
Chief financial officer Voin Todorovic said he expects total revenues to jump 5% to 7% throughout Fiscal Year 2023, which would make it a third record year in a row.
First quarter results showed total revenues of $120.1 million, an increase of 2% over the first quarter in 2022. Net retail sales for the quarter dipped less than 1% to $112.1 million, a decline the company attributed to a $1.3 million loss due to currency exchange.
CEO Sharon Price John said the company planned to open 20 to 30 new stores this year, including four at Kalahari Resort locations that were also announced Thursday. The company expects to benefit from two film releases this year, including its first animated feature which will focus on its popular snow deer character, Glisten.
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John also noted that one of the company's teddy bears, named GiGi, is on board the Ax-2 rocket that arrived at the International Space Station on Monday.
"That's one small step for GiGi, one giant leap for bearkind," she said.
