Build-A-Bear Workshop lifts forecast on strong holiday sales; adding Baby Yoda to lineup
Build-A-Bear Workshop had plenty to cheer about on Tuesday.
The company lifted its full-year forecast based on strong holiday sales. And in a presentation at an industry event, it revealed that one of the most popular characters to emerge from a "Star Wars"-related show in years — Baby Yoda — will be joining its lineup of stuffed animals.
"I'm excited to share we will be one of the first companies to provide the digital and internet phenomenon who is trending higher than all the presidential candidates combined," Sharon Price John, CEO, Build-A-Bear, said during a presentation at the ICR Conference in Orlando. "We now will have The Child, also known as Baby Yoda.”
John said the new Baby Yoda plush toy would be available at Build-A-Bear in the next few months. The character made its debut in “The Mandalorian,” which debuted on Disney Plus in November.
In a release, Build-a-Bear said it now expects total revenue for fiscal 2019 to be between $334 million and $338 million. Previously, the company had forecast total revenue would be flat to down in the low single-digit range.
“We are pleased to have seen a positive shift in sales trend as the fourth quarter progressed leading into the peak holiday period and sales have continued to grow post-holiday with stronger gift card redemption levels and positive consumer response to our newest merchandise offerings leading us to increase our guidance for the year,” John stated. “In addition to the improvement in our retail store base, we are also pleased with the continuing progress in our e-commerce segment which we expect to deliver a ninth consecutive quarter of double-digit growth, a pattern that has been consistent since we implemented an upgrade to our platform in 2017.”