Analysts say the retail could be close to a sale and, indeed, Build-A-Bear said in June it would consider strategic alternatives, including such a move.
In a client note, analyst John Zolidis said the company backed out of an appearance at an investment conference set for next month. Zolidis noted that companies often cancel appearances when a sale is close.
"While we can't say for sure whether Build-A-Bear's newfound scheduling issue is legitimate, cancelling an appearance at a conference has been a signal that something is afoot in other situations that we have encountered in the past," he said.
Media reports also suggest a sale may be close, Zolidis said. He named Mattel, Gymboree, Hasbro and American Greetings as potential buyers.