Build-A-Bear Workshop cuts loss

St. Louis -- Build-A-Bear Workshop retains its come-back momentum.



By limiting growth of costs and expenses and improving sales, Build-A-Bear Workshop reduced its net loss to better-than-expected $628,000 in the second quarter of fiscal 2015 from $4.3 million the same period a year earlier.



Total revenues grew 6% to $81.01 million from $80.2 million. Same-store sales increased 8.7%, including a 6.5% increase in North America and an 18.2% increase in Europe. Consolidated e-commerce sales rose 11.4% excluding the impact of foreign exchange.



“The disciplined management of our business combined with the successful execution of our stated strategy drove strong sales growth and improved profitability for the second quarter, marking our tenth consecutive quarter of enhanced operating performance,” said Sharon Price John, CEO, Build-A-Bear Workshop. "We delivered positive comparable store sales across geographies, increased retail gross margin and achieved $6.6 million in pre-tax profit at the halfway point of the year, the highest level since 2007, giving us solid momentum going into the back half.”



During the second half of 2015, Build-A-Bear plans to open six outlet shops in North America and Europe, and at least six in-store holiday shops as part of its ongoing partnership with Macy’s. The company also plans to open between 10 and 15 non-traditional stores in Europe during fiscal 2015.



Other future plans include targeting consumers older than 12 with new products and a focus on gift-giving, launching an outbound licensing program, implement systems that increase efficiency and boost margins.