Build-a-bear cuts its losses

The teddy bear workshop improves Q2 figures by 26 per cent and makes plans for international expansion.
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Second quarter losses were $6.7 million, a 26 per cent improvement on last year’s $8.5 million loss.

Revenues increased 10.4 per cent to $81.8 million from $74.1 million in Q2 2010.

Maxine Clark 'chief executive bear', said: "The second quarter is our smallest quarter and typically results in a loss even when Easter shifts into the period.

"We will strategically use our strong balance sheet to take advantage of other growth opportunities as they present themselves."

Tina Klocke, chief operations and financial bear, said: "During the quarter, we expanded our international business with a successful opening of our first franchise location in Brazil.

"We believe that international growth is a key opportunity and are working closely with our franchisees to aggressively move the business forward."

Internet sales were up 22.8 per cent thanks to an 'updated technology platform'.

Clark said: "We also see opportunity to update our store design and experience with exising new features that will increase guest engagement and drive traffic to our stores."


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