Earnings release
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Press Release ir.buildabear.com/news-releases/news-release-details/build-bear-workshop-inc-reports-increased-revenues-and pre - tax Build - A - Bear Workshop , Inc. Reports Increased Revenues and Pre - Tax Income in Fiscal 2021 First Quarter Exceeding Both 2020 and 2019 First Quarter Results and Raises Annual Guidance • Generates $ 91.7 million in total revenues , an increase of 96.7 % compared to the fiscal 2020 first quarter and 8.7 % compared to the fiscal 2019 first quarter • E - commerce demand expands by 87 % compared to the fiscal 2020 first quarter • Gross profit margin is 52.8 % compared to 17.3 % in the fiscal 2020 first quarter • Delivers pre - tax income of $ 13.2 million , reaching the highest in the Company's history for its first quarter , an improvement of $ 31.9 million compared to the fiscal 2020 first quarter and $ 10.8 million compared to the fiscal 2019 first quarter • Increases fiscal 21 annu guidance for EBITDA to $ 28 million to $ 32 million ST . LOUISBuild - A - Bear Workshop , Inc. ( NYSE : BBW ) today reported results for its fiscal 2021 first quarter , the 13 - week period ended May 1 , 2021 . Sharon Price John , Build - A - Bear Workshop President and Chief Executive Officer , commented , " We delivered one of the strongest first quarters in our Company's nearly 25 year history including a 96.7 % increase in total revenues compared to the fiscal 2020 first quarter and an 8.7 % increase versus the fiscal 2019 period . We grew pre - tax income to $ 13.2 million , an improvement of $ 31.9 million compared to the loss in the prior year's quarter and $ 10.8 million compared to the 2019 period . We saw sales growth in both our brick - and - mortar stores and digital channels even with our locations in Europe temporarily closed for the majority of the period due to local COVID restrictions . We believe the improvement in sales was driven by the strength of the emotional connection that has kept Build - A - Bear a desired and relevant brand , strong merchandise mix and improved digital marketing programs along with the benefit of the stimulus package and pent - up consumer demand . " I'm proud of our organization's ability to remain agile and successfully pivot to aggressively evolve our digital capabilities , including a drive to enhance our e - commerce experience , increase omnichannel integration , maintain a flexible real estate portfolio with high lease optionality and diversify revenue streams to leverage our powerful brand , putting us in a positive position with favorable momentum . As a testament to the strength of the brand , we recently surpassed over 200 million furry friends sold since the company was established in 1997 , " Ms. John continued . " As we look forward , we believe the initiatives and investments that were put in place prior to the pandemic , and in many cases accelerated during the pandemic , are delivering improved results , which we expect to continue . While trends may moderate as the year progresses , thus far , sales in the current second quarter have remained strong , providing us the confidence to increase our profit guidance for this fiscal year . With a solid balance sheet and intense focus on our strategic priorities , we expect fiscal 2021 to represent a year of significant accomplishments and progress toward our objective to generate long term sustained profitable growth , " concluded Ms. John . First Quarter 2021 Results ( 13 weeks ended May 1 , 2021 compared to the 13 weeks ended May 2 , 2020 ) : 1/13