Build-A-Bear profit up in Q1

St. Louis Build-A-Bear Workshop swung to a profit in the first quarter, due in part to the shift of the Easter holiday to the first quarter this year from the second quarter of fiscal 2009.

The company posted profit of $1.7 million for the quarter ended April 3, compared with a loss $826,000 a year earlier.

Build-A-Bear recorded revenue of $101.4 million, up 4% from $97.7 million in the prior-year quarter.

Consolidated same-store sales increased 2.1%, including a 1.9% increase in North America and a 3.2% increase in Europe.

“Our results reflect the initial implementation of our key strategies to improve sales productivity and profitability with compelling offerings and improved integration of product, marketing and store operations,” Build-A-Bear Workshop chairman and CEO Maxine Clark said.

While the shift of Easter will impact April results, the company expects to build upon the momentum “by telling bigger stories with our new product introductions and promotions,” Clark said.

Build-A-Bear Workshop ended the 2010 first quarter with 345 company-owned stores, 291 in North America and 54 in Europe.