Bear Workshop builds on last year's results

Firm reports total revenue of almost $110 million for Q3, $327 million for the first nine months
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Build-A-Bear Workshop has reported an increase in its total revenue of 8.2 per cent to $109.8 million for the fiscal 2007 third quarter, ending September 29, 2007, increasing its running revenue by more than 11 per cent to $327 million for the first nine months of fiscal 2007.

These results compare to its total revenue of $101.5 million for the third quarter in 2006 and a about $295 million for the year’s first nine months.

The firm’s third quarter net income was $3 million or 15 cents per share, up slightly from last year’s Q3 net income of $2.7 million or 13 cents per share.

The results include an operation loss from European stores of $0.5 million, an improvement on the loss of $2.1 million suffered in the third quarter of 2006.

The opening of the first company-owned stores in France occurred during the quarter, bringing the firm’s European operations to 45 stores in the UK, Ireland and France.

International franchisees also opened a total of six new stores in South Africa, India, Germany and Thailand

Maxine Clark, chairman and chief executive of Build-A-Bear Workshop said: “While the current economic environment is challenging for the consumer, our profit performance underscores the fundamental strength of our store model and the store experience we provide to our guests.”

“By focusing on our core brand, in-store execution and adding new products and experiences, both real and virtual, we believe we will be strongly positioned to maximise and grow our business when overall consumer spending moves in a positive direction,” Clark said.

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