Build-A-Bear reports loss in Q3

Firm swings to a loss following closure of its Friends 2B doll business.
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The company reported a net loss of $2 million, or 11 cents a share, for the quarter, compared with a net profit of $3 million, or 15 cents a share, a year ago.

The quarter included a $1.7 million charge for closing down the Friends 2B business .

Excluding charges from the closing business, Build-A-Bear would have posted a loss of about $300,000, or two cents per share.

Analysts, on average, expected the company to earn 2 cents a share, before special items, on revenue of $110.2 million, according to Reuters Estimates.

Revenue fell about 2 per cent to $107.2 million and same-store sales fell 11.6 per cent for the period.

The retailer, which lets customers make their own stuffed animals, said it expects to incur pretax charges of about $1.9 million to $2.3 million over the next fiscal year.

Source: Reuters

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