Earnings release
Page 1
BUILD BEAR EST . 1997 Build - A - Bear Workshop , Inc. Reports Increased Revenues and Pre - tax Income in Fiscal 2021 Second Quarter Exceeding Both 2020 and 2019 Second Quarter Results and Raises Annual August 26 , 2021 Guidance • Generates $ 94.7 million in total revenues , an increase of 134.7 % compared to the fiscal 2020 second quarter and 19.6 % compared to the fiscal 2019 second quarter • Gross profit margin is 53.2 % compared to 18.7 % in the fiscal 2020 second quarter and 44.1 % in the fiscal 2019 second quarter • Delivers pre - tax income of $ 9.5 million , reaching the highest in the Company's history for its second quarter , an improvement of $ 23.5 million compared to the fiscal 2020 second quarter and $ 10.2 million compared to the fiscal 2019 second quarter • Increases fiscal 2021 annual guidance ST . LOUIS -- ( BUSINESS WIRE ) -- Aug . 26 , 2021-- Build - A - Bear Workshop , Inc. ( NYSE : BBW ) today reported results for the second quarter and six months ended July 31 , 2021. The Company noted that its historically best second quarter profit results followed a record performance in the fiscal 2021 first quarter leading to the Company's strongest first six months performance in its nearly 25 - year history . Sharon Price John , Build - A - Bear Workshop President and Chief Executive Officer , commented , " Our positive trend continued in the second quarter as we once again delivered record - breaking profit as well as strong growth in total revenues over both the fiscal 2020 and 2019 second quarters . We believe these results reflect momentum that has been building from the execution of our stated strategy , agility to adapt to a rapidly evolving environment , and ability to accelerate key initiatives to drive sustained profitable growth , while recognizing that the business is also benefiting from pandemic - related factors such as pent - up demand and stimulus funds . " We made progress in each area of strategic focus with the acceleration of our digital transformation including content and entertainment initiatives , the advancement of our retail capabilities and experiences , while maintaining a solid financial position to support our business and future growth . We look forward to continuing to leverage our strong brand appeal to a broad demographic base of consumers across multiple channels . Business trends have continued to be positive into the current third quarter and while we are navigating an environment with higher costs and a tight supply chain as well as monitoring the ongoing evolution of the pandemic , we are optimistic about our full - year performance and are again increasing our annual guidance , " Ms. John concluded . Second Quarter Fiscal 2021 Results : ( 13 weeks ended July 31 , 2021 compared to the 13 weeks ended August 1 , 2020 ) : • Total revenues were $ 94.7 million , a 134.7 % increase compared to $ 40.4 million in the fiscal 2020 second quarter , and a 19.6 % increase from $ 79.2 million in the fiscal 2019 second quarter ; • Net retail sales were $ 91.3 million , a 132.1 % increase compared to $ 39.3 million in the fiscal 2020 second quarter and a 21.4 % increase compared to $ 75.2 million in the fiscal 2019 second quarter ;