Build-A-Bear Workshop swings to Q3 profit; plans holiday pop-ups in Macy’s

St. Louis –- Build-A-Bear Workshop Inc. swung to a profit in the third quarter of fiscal 2014 from a loss in the same quarter a year earlier. The retailer also announced that will open five pop-up stores for the 2014 holiday season, including one in Macy’s Herald Square flagship in New York City, and its State Street location in Chicago.



The retailer reported net income of $1.8 million in the third quarter of fiscal 2014, compared to net loss of $1.4 million in the year ago period, aided by a shift to pre-tax income from pre-tax loss.



Build-A-Bear Workshop reported total revenues of $86.7 million while operating seven fewer stores at the end of the quarter, up from $84.8 million in the fiscal 2013 third quarter. Consolidated comparable e-commerce sales rose 14.5%.



“The third quarter marked our seventh consecutive quarter of improved operating performance and was fueled by positive comparable store sales, expansion in retail gross margin and disciplined expense management,” said Sharon John, CEO of Build-A-Bear. “Year-to-date, we have delivered pre-tax income of $3.4 million marking the first time since 2007 that our company has been profitable through the first three quarters of the year.”



In addition to the holiday pop-ups, Build-A-Bear Workshop will also be showcased in Macy’s famed Santaland at select stores and will again feature a themed float in the annual Macy’s Thanksgiving Day Parade.



“With more than 3.5 million people lining the streets of New York City for the Parade, as well as 50 million viewers tuning in at home, we are thrilled to once again have Build-A-Bear as an integral part of our most cherished holiday tradition,” said Martine Reardon, Macy’s chief marketing officer. “Additionally, the launch of five new Build-A-Bear shop-in-shop locations will give Macy’s customers the opportunity to enjoy the iconic Build-A-Bear Workshop experience and create lasting memories."