Build a Bear Workshop lowers full year revenue forecast as Brexit looms

However, the company's CEO maintains that Build a Bear is a strong brand at retail
Author:
Publish date:
build-a-bear.jpg

Unresolved issues around Brexit have forced Build a Bear Workshop to lower its full year revenue forecast.

The UK’s planned exit from the European Union this March has ‘negatively impacted consumer confidence,’ the company has stated amid its recent announcement.

As a result, it now expects sales outside of the US market to drop by between 17 per cent and 20 per cent, ‘largely isolated to the UK.’

Other factors have also affected revenues including currency exchange rates and the introduction of the EU General Data Protection Regulation which has “impeded our marketing communications.”

It also said that sales of themed stuffed toys had fallen due to “significantly fewer family-centric, character based movies.”

For the full year for February 2nd 2019, revenue is now forecast to reach between $335 million and $340 million. That compares to previous expectations of between $340 million and $345 million.

However, Build a Bear expects sales to improve this year with the release of the film How to Train Your Dragon: The Hidden World and the sequel to the popular animated movie Frozen.

Build a Bear chief executive Sharon Price John, said: “We continue to believe that the Build a Bear brand remains strong.” 

Related

Featured Jobs

GAMEPLAN LOGO 3D hi res

Marketing Director UK

Gameplan I Southeast of England I Salary: Competitive I Date Published Monday 7th January 2019

Rainbow logo landscape_home of classic Final

Product Manager

Rainbow Designs Ltd I Olympia, London I Salary: Competitive I Date Published Wednesday 16th January 2019