Press Release
Build-A-Bear Workshop, Inc. Updates Sales Expectations for Fiscal Year 2018 Ahead of ICR Conference
For the fiscal 2018 year, the Company is lowering revenue guidance and currently expects:
-
Total revenues in the range of
$335 million to $340 million for the 52-week period endingFebruary 2, 2019 inclusive of the negative impact of$3.9 million due to the adoption of new accounting standards effecting the timing of the recognition of breakage revenue for certain gift cards and the nonoccurrence of the prior year benefit of$6.0 million for a 53rd week in revenue. Total revenues were$364.0 million for the recast 53-week period endedFebruary 3, 2018 . The$9.9 million impact of these two items would adjust total fiscal 2017 recast year revenues to$354.1 million . -
Within the Company’s Direct-To-Consumer segment, total revenues in
North America are expected to decline by approximately 2% compared to the adjusted recast 2017 fiscal year and total revenues inEurope are expected decline in the range of 17% to 20% compared to the adjusted recast 2017 fiscal year.
“Post-Christmas, our sales trend has been positive, which includes gift
card redemptions and initial sales of licensed product associated with
the upcoming family film, “How To Train Your Dragon: The Hidden World”,
which will be released next month in the U.S. and the
The Company is scheduled to present at the at the
Build-A-Bear is a global brand kids love and parents trust that seeks to
add a little more heart to life.
Forward-Looking Statements:
This press release contains certain statements that are, or may be considered to be, “forward-looking statements” for the purpose of federal securities laws, including, but not limited to, statements that reflect our current views with respect to future events and financial performance. We generally identify these statements by words or phrases such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “intend,” “predict,” “future,” “potential” or “continue,” the negative or any derivative of these terms and other comparable terminology. All of the information concerning our future liquidity, future revenues, margins and other future financial performance and results, achievement of operating of financial plans or forecasts for future periods, sources and availability of credit and liquidity, future cash flows and cash needs, success and results of strategic initiatives and other future financial performance or financial position, as well as our assumptions underlying such information, constitute forward-looking information.
These statements are based only on our current expectations and
projections about future events. Because these forward-looking
statements involve risks and uncertainties, there are important factors
that could cause our actual results, level of activity, performance or
achievements to differ materially from the results, level of activity,
performance or achievements expressed or implied by these
forward-looking statements, including those factors discussed under the
caption entitled “Risks Related to Our Business” and “Forward-Looking
Statements” in our Annual Report on Form 10-K filed with the
All of our forward-looking statements are as of the date of this Press
Release only. In each case, actual results may differ materially from
such forward-looking information. We can give no assurance that such
expectations or forward-looking statements will prove to be correct. An
occurrence of or any material adverse change in one or more of the risk
factors or other risks and uncertainties referred to in this Press
Release or included in our other public disclosures or our other
periodic reports or other documents or filings filed with or furnished
to the
All other brand names, product names, or trademarks belong to their respective holders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190114005139/en/
Source:
Investors:
Voin Todorovic
Build-A-Bear Workshop
314.423.8000
x5221
Media:
Beth Kerley
Build-A-Bear Workshop
bethk@buildabear.com