Build-a-Bear ups sales

European sales increase more than 50 per cent.
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First quarter net sales for the firm up to March 29th reached $121.9 million, an increase of six million on last year’s efforts.

The firm attributed the sales growth to its two new stores in the US and a climb in European sales of 52 per cent or $5.6 million to $16.4 million.

However, the firm’s net income dipped from $8.1 million in the first quarter of 2007 to $6.7 million this year.

 “While our results continue to reflect challenges in the North American retail environment, it is clear that we are making significant progress in our European operations and the strong adoption of buildabearville.com shows that our overall brand franchise remains strong,” said chairman and CEO, Maxine Clark.

“With the conclusion of the strategic review process and our decision to moderate our new store growth, we are concentrating on expense control while also strengthening our brand position for the long term and positioning ourselves for an improving economy.”

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