Build-A-Bear Workshop has reported results for Q4 2014 and the fiscal year ended January 3rd, 2015.
The firm has reported an $18m improvement in operating performance for the 2014 fiscal year, with an increase of 1.6 per cent for the fiscal year.
Build-A-Bear also saw consolidated comparable store sales increase 9.9 per cent for Q4 2014, including an 8.5 per cent increase in North America and a 14 per cent increase in Europe (fourth quarter comparable store sales are compared to the 14-week period ended January 4, 2014).
Net income improved to $11.8m compared to net income of $5.4m in the fiscal 2013 fourth quarter and adjusted net income improved to $12.8m compared to adjusted net income of $6.9m in the fiscal 2013 fourth quarter.
“The fourth quarter marked a strong finish to the year for Build-A-Bear Workshop," said Sharon Price John, Build-A-Bear Workshop’s chief executive officer.
"In the quarter, we delivered a 9.9 per cent increase in consolidated comparable store sales, a 730 basis point expansion in retail gross margin and adjusted net income of $12.8 million up from $6.9 million in the fourth quarter of 2013.
"During the year, we made steady progress toward our stated long term sales productivity and profitability goals with sales growth across geographies, increased sales per square foot and expanded four-wall contribution margin.
“We are leveraging our momentum from the fourth quarter and are off to a positive start in 2015. Our priorities in the year ahead are focused on continuing the disciplined execution of our strategy while capitalising on our powerful brand to generate incremental revenue and profit streams for our company.
"During the year, we expect to see additional progress toward our goal to drive continuous improvement and sustained profitable growth.”