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Document And Entity Information (USD $)
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12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2011
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Mar. 12, 2012
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Jul. 02, 2011
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| Document and Entity Information [Abstract] | |||
| Entity Registrant Name | BUILD A BEAR WORKSHOP INC | ||
| Document Type | 10-K | ||
| Current Fiscal Year End Date | --01-01 | ||
| Entity Common Stock, Shares Outstanding | 17,394,457 | ||
| Entity Public Float | $ 87,573,917 | ||
| Amendment Flag | false | ||
| Entity Central Index Key | 0001113809 | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Filer Category | Accelerated Filer | ||
| Entity Well-known Seasoned Issuer | No | ||
| Document Period End Date | Dec. 31, 2011 | ||
| Document Fiscal Year Focus | 2011 | ||
| Document Fiscal Period Focus | FY |
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- Details
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other. No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of the liability for outstanding gift cards. Retail customers purchase gift cards or gift certificates that can be redeemed at a later date for merchandise or services; those unredeemed represent a liability of the entity because the revenue is being deferred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
For a classified balance sheet, the cumulative difference between the rental income or payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, more than one year after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parentheticals) (USD $)
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Dec. 31, 2011
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Jan. 01, 2011
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|---|---|---|
| Preferred stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 15,000,000 | 15,000,000 |
| Preferred stock, shares issued | 0 | 0 |
| Preferred stock, shares outstanding | 0 | 0 |
| Common stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 50,000,000 | 50,000,000 |
| Common stock, shares issued | 17,405,270 | 19,631,623 |
| Common stock, shares outstanding | 17,405,270 | 19,631,623 |
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2011
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Jan. 01, 2011
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Jan. 02, 2010
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|
| Revenues: | |||
| Net retail sales | $ 387,041 | $ 387,163 | $ 388,552 |
| Commercial revenue | 3,943 | 11,246 | 4,001 |
| Franchise fees | 3,391 | 3,043 | 3,353 |
| Total revenues | 394,375 | 401,452 | 395,906 |
| Costs and expenses: | |||
| Cost of merchandise sold | 234,227 | 239,556 | 247,511 |
| Selling, general, and administrative | 162,334 | 163,910 | 162,673 |
| Store preopening | 547 | 708 | 90 |
| Losses from investment in affiliate | 9,615 | ||
| Interest expense (income), net | (81) | (250) | (143) |
| Total costs and expenses | 397,027 | 403,924 | 419,746 |
| Income (loss) before income taxes | (2,652) | (2,472) | (23,840) |
| Income tax expense (benefit) | 14,410 | (2,576) | (11,367) |
| Net income (loss) | $ (17,062) | $ 104 | $ (12,473) |
| Earnings (loss) per common share: | |||
| Basic (in Dollars per share) | $ (0.98) | $ 0.01 | $ (0.66) |
| Diluted (in Dollars per share) | $ (0.98) | $ 0.01 | $ (0.66) |
| Shares used in computing per common share amounts: | |||
| Basic (in Shares) | 17,371,315 | 18,601,465 | 18,874,352 |
| Diluted (in Shares) | 17,371,315 | 18,653,012 | 18,874,352 |
| X | ||||||||||
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- Definition
Revenue earned during the period from consideration received for transactions with other businesses, mainly through wholesale transactions and licensing of intellectual properties for third-party use. No definition available.
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Revenue earned during the period from consideration (often a percentage of the franchisee's sales) received for the right to operate a business using the entity's name, merchandise, services, methodologies, promotional support, marketing, and supplies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Expenditures associated with opening new locations which are noncapital in nature and expensed as incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Stockholders' Equity (USD $)
In Thousands |
Common Stock [Member]
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Additional Paid-in Capital [Member]
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Accumulated Other Comprehensive Income (Loss) [Member]
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Retained Earnings [Member]
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Comprehensive Income [Member]
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Total
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|---|---|---|---|---|---|---|
| Balance, January 3, 2009 at Jan. 03, 2009 | $ 195 | $ 76,852 | $ (12,585) | $ 103,263 | $ 167,725 | |
| Stock-based compensation | 4,335 | 4,335 | ||||
| Shares issued under employee stock plans, net of tax benefit | 9 | (1,065) | (1,056) | |||
| Other comprehensive income (loss) | 6,249 | 6,249 | 6,249 | |||
| Net income (loss) | (12,473) | (12,473) | (12,473) | |||
| (6,224) | ||||||
| Balance at Jan. 02, 2010 | 204 | 80,122 | (6,336) | 90,790 | 164,780 | |
| Stock-based compensation | 4,818 | 4,818 | ||||
| Shares issued under employee stock plans, net of tax benefit | 3 | (1,095) | (1,092) | |||
| Other comprehensive income (loss) | (3,623) | (3,623) | (3,623) | |||
| Net income (loss) | 104 | 104 | 104 | |||
| (3,519) | ||||||
| Share repurchase | (11) | (7,263) | (7,274) | |||
| Balance at Jan. 01, 2011 | 196 | 76,582 | (9,959) | 90,894 | 157,713 | |
| Stock-based compensation | 4,605 | 4,605 | ||||
| Shares issued under employee stock plans, net of tax benefit | 3 | (808) | (805) | |||
| Other comprehensive income (loss) | (206) | (206) | (206) | |||
| Net income (loss) | (17,062) | (17,062) | (17,062) | |||
| (17,268) | ||||||
| Share repurchase | (25) | (14,977) | (15,002) | |||
| Balance at Dec. 31, 2011 | $ 174 | $ 65,402 | $ (10,165) | $ 73,832 | $ 129,243 |
| X | ||||||||||
|
- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents Other Comprehensive Income or Loss, Net of Tax, for the period. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For net-share settlement of share-based awards when the employer settles employees' income tax withholding obligations, this element represents amount the employees use to repay the employer. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified equity-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements. This element reduces net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period of the sum of amounts due within one year (or one business cycle) from customers for the credit sale of goods and services; and from note holders for outstanding loans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the obligation for outstanding gift cards. Retail customers purchase gift cards or gift certificates that can be redeemed at a later date for merchandise or services; those unredeemed represent a liability of the entity because the revenue is being deferred. No definition available.
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets,or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the book value of merchandise inventory held by a retailer, wholesaler, or distributor for future sale; includes packaging and other supplies used to store, transport, or present merchandise inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The value of the noncash (or part noncash) consideration given (for example, liability, equity) in a transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash received during the period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total cash inflow associated with the amount received from holders to acquire the entity's shares under incentive and share awards, including stock option exercises. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from disposal of asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from sales of all investments, including securities and other assets, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified stock options) recognized on the entity's tax return exceeds compensation cost from non-qualified stock options recognized on the income statement. This element increases net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 1 - Description of Business and Basis of Preparation
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
|||
| Business Description and Basis of Presentation [Text Block] |
Build-A-Bear
Workshop, Inc. (the Company) is a specialty retailer of
plush animals and related products. At
December 31, 2011, the Company operated 346 stores
located in the United States, Canada, Puerto Rico, the
United Kingdom and Ireland. The Company was
formed in September 1997 and began operations in October
1997. The Company changed to a Delaware C
Corporation on April 3, 2000. The Company
previously operated as a Missouri limited liability
company.
During
2001, the Company and a third party formed Build-A-Bear
Entertainment, LLC (BABE) for the purpose of promoting
the Build-A-Bear Workshop brand and characters of the
Company through certain entertainment
media. Prior to February 2003, the Company
owned 51% and was the managing member.
During
2002, the Company formed Build-A-Bear Workshop Franchise
Holdings, Inc. (Holdings) for the purpose of entering
into franchise agreements with companies in foreign
countries where Build-A-Bear Workshop, Inc. does not have
company-owned stores. Holdings is a
wholly-owned subsidiary of the Company. As of
December 31, 2011, 79 Build-A-Bear Workshop franchise
stores are open and operating in 14 countries.
Also
during 2002, the Company formed Build-A-Bear Workshop
Canada Ltd. (BAB Canada) for the purpose of operating
Build-A-Bear Workshop stores in Canada. BAB
Canada is a wholly-owned subsidiary of the
Company.
During
2003, the Company formed Build-A-Bear Retail Management,
Inc. (BABRM) for the purpose of providing
purchasing, legal, information technology, accounting,
and other general management services for Build-A-Bear
Workshop stores. BABRM is a wholly-owned
subsidiary of the Company. In February 2003,
BABRM purchased the minority interest in BABE, which
became a wholly-owned subsidiary.
On
April 2, 2006, the Company acquired all of the
outstanding shares of The Bear Factory Limited, a stuffed
animal retailer in the United Kingdom, and Amsbra
Limited, its former United Kingdom franchisee (the UK
Acquisition). During 2006, the Company formed
Build-A-Bear Workshop UK Holdings, Ltd (UK Holdings) as
the parent company to The Bear Factory and
Amsbra. UK Holdings is a wholly-owned
subsidiary of Holdings. The results of the
acquisitions’ operations have been included in the
consolidated financial statements since the date of
acquisition. Also during 2006, the Company
formed Build-A-Bear Workshop Ireland, Ltd. and
Build-A-Bear Workshop France SAS as wholly-owned
subsidiaries of Holdings. In 2010, all
Company-owned stores in France were
closed. The Company currently has 58 stores in
the United Kingdom and Ireland.
Certain
reclassifications of prior year amounts have been made to
conform to current year presentation.
|
| X | ||||||||||
|
- Definition
The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
|
|
Note 2 - Summary of Significant Accounting Policies
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2011
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Significant Accounting Policies [Text Block] |
A
summary of the Company’s significant accounting
policies applied in the preparation of the accompanying
consolidated financial statements follows:
The
accompanying consolidated financial statements include
the accounts of Build-A-Bear Workshop, Inc. and its
wholly-owned subsidiaries: Holdings, BAB Canada, BABE,
and BABRM. All significant intercompany
accounts are eliminated in consolidation.
The
Company operates on a 52- or 53-week fiscal year ending
on the Saturday closest to
December 31. The periods presented in
these financial statements are the fiscal years ended
December 31, 2011 (fiscal 2011), January 1, 2011
(fiscal 2010) and January 2, 2010 (fiscal
2009). All fiscal years presented included
52 weeks. References to years in these
financial statements relate to fiscal years or year ends
rather than calendar years.
Cash
and cash equivalents include cash and short-term highly
liquid investments with an original maturity of three
months or less held in both domestic and foreign
financial institutions.
The
majority of the Company’s cash and cash equivalents
exceed federal deposit insurance limits. The
Company has not experienced any losses in such accounts
and management believes that the Company is not exposed
to any significant credit risk on cash and cash
equivalents.
Inventories
are stated at the lower of cost or market, with cost
determined on an average-cost basis. Inventory
includes supplies of $3.7 million and $5.3 million as of
December 31 and January 1, 2011,
respectively.
Receivables
consist primarily of amounts due to the Company in
relation to tenant allowances, corporate product sales,
franchisee royalties and product sales, and licensing
revenue. The Company assesses the
collectability of all receivables on an ongoing basis by
considering its historical credit loss experience,
current economic conditions, and other relevant
factors. Based on this analysis, the Company
has determined that no material allowance for doubtful
accounts was necessary at either December 31, 2011 or
January 1, 2011.
Property
and equipment consist of leasehold improvements,
furniture and fixtures, computer equipment and software,
building and land and are stated at
cost. Leasehold improvements are depreciated
using the straight-line method over the shorter of the
useful life of the assets or the life of the lease which
is generally ten years. Furniture and fixtures
and computer equipment are depreciated using the
straight-line method over the estimated service lives
ranging from three to seven years. Computer
software is amortized using the straight-line method over
a period of three to five years. New store
construction deposits are recorded at the time the
deposit is made as construction-in-progress and
reclassified to the appropriate property and equipment
category at the time of completion of construction, when
operations of the store commence. Maintenance
and repairs are expensed as incurred and improvements are
capitalized. Gains or losses on the
disposition of fixed assets are recorded upon
disposal.
Goodwill
is tested for impairment annually or more frequently if
events or changes in circumstances indicate that the
asset might be impaired. This testing requires
comparison of the carrying value of the reporting unit to
its fair value, and when appropriate, the carrying value
of impaired assets is reduced to fair
value. The calculation of fair value requires
multiple assumptions regarding our future operations to
determine future cash flows, including but not limited
to, sales volume, margin rates, store growth rates and
discount rates. Based on the annual impairment
test performed for the Company’s UK reporting unit
as of December 31, 2011, the Company has determined that
there was no impairment of goodwill in
2011. If the assumptions used in the analysis
were less favorable, it is possible that the Company may
have been required to impair goodwill.
Other
intangible assets consist primarily of initial costs
related to trademarks and other intellectual property and
key money deposits. Trademarks and other
intellectual property represent third-party costs that
are capitalized and amortized over their estimated lives
ranging from one to three years using the straight-line
method. Key money deposits represent amounts
paid to a tenant to acquire the rights of tenancy under a
commercial property lease for a property located in
France. These rights can be subsequently sold
by us to a new tenant. All key money deposits
were sold in 2010.
Other
assets consist primarily of deferred leasing fees and
deferred costs related to franchise
agreements. Deferred leasing fees are initial,
direct costs related to the Company’s operating
leases and are amortized over the term of the related
leases. Deferred franchise costs are initial
costs related to the Company’s franchise agreements
that are deferred and amortized over the life of the
respective franchise agreement. Amortization
expense related to other assets was $0.5 million, $0.7
million and $0.5 million for 2011, 2010 and 2009,
respectively.
Whenever
facts and circumstances indicate that the carrying value
of a long-lived asset may not be recoverable, the
carrying value is reviewed. If this review
indicates that the carrying value of the asset will not
be recovered, as determined based on projected
undiscounted cash flows related to the asset over its
remaining life, the carrying value of the asset is
reduced to its estimated fair value. See Note 4 –
Property and Equipment and Note 6 – Other
Intangible Assets for further discussion regarding the
impairment of long-lived assets.
The
calculation of fair value requires multiple assumptions
regarding our future operations to determine future cash
flows, including but not limited to, sales volume, margin
rates and discount rates. If different
assumptions were used in the analysis, it is possible
that the amount of the impairment charge may have been
significantly different than what was recorded.
Certain
of the Company’s operating leases contain
predetermined fixed escalations of minimum rentals during
the original lease terms. For these leases,
the Company recognizes the related rental expense on a
straight-line basis over the life of the lease and
records the difference between the amounts charged to
operations and amounts paid as deferred
rent. The Company also receives certain lease
incentives in conjunction with entering into operating
leases. These lease incentives are recorded as
deferred rent at the beginning of the lease term and
recognized as a reduction of rent expense over the lease
term. In addition, certain of the
Company’s leases contain future contingent
increases in rentals. Such increases in rental
expense are recorded in the period that it is probable
that store sales will meet or exceed the specified target
that triggers contingent rental expense.
The
Company defers initial, one-time nonrefundable franchise
fees and amortizes them over the life of the respective
franchise agreements, which extend for periods up to
25 years. The Company’s obligations
under the contract are ongoing and include operations and
product development support and training, generally
concentrated around new store
openings. Continuing franchise fees are
recognized as revenue as the fees are earned.
Net
retail sales are net of discounts, exclude sales tax, and
are recognized at the time of sale. Shipping
and handling costs billed to customers are included in
net retail sales.
Revenues
from the sale of gift cards are recognized at the time of
redemption. Unredeemed gift cards are included
in gift cards and customer deposits on the consolidated
balance sheets. The company escheats a portion
of unredeemed gift cards according to the escheatment
regulations of the relevant authority that generally
require remittance of the cost of merchandise portion of
unredeemed gift cards over five years old. The
difference between the value of gift cards and the amount
escheated is recorded as income in the consolidated
statement of operations.
The
Company has a customer loyalty program in North America,
the Stuff Fur Stuff club, whereby guests enroll in the
program and receive one point for every dollar or partial
dollar spent and after reaching 100 points receive a $10
discount on a future purchase. An estimate of
the obligation related to the program, based on
historical redemption patterns, is recorded as deferred
revenue and a reduction of net retail
sales. The deferred revenue obligation is
reduced, and a corresponding amount is recognized in net
retail sales, in the amount of and at the time of
redemption of the $10 certificate.
Throughout
fiscal 2010, the Company continued to use the deferral
rate established at the end of fiscal 2008 to estimate
the appropriate amount of revenue to defer and thereby
the related liability. This rate, which was
based on actual redemption rates and historical results,
was applied to eligible purchases of Stuff Fur Stuff Club
members at the time of the transaction. For
the December 31, 2011 and January 1, 2011 balance sheets,
historical rates for points converting into certificates
and ultimate certificate redemption were applied to
actual points and certificates outstanding at the
respective balance sheet date to calculate the liability
and corresponding adjustment to net retail
sales. Management reviews these patterns and
assesses the adequacy of the deferred revenue liability
at the end of each fiscal quarter. Due to the
estimates involved in these assessments, adjustments to
the historical rates are generally made no more often
than annually in order to allow time for more definite
trends to emerge.
Based
on the assessment at the end of 2011, the deferred
revenue liability was adjusted downward by $1.5 million,
with a corresponding increase to net retail sales, and a
$0.9 million increase in net income.
Based
on the assessment at the end of 2010, the deferred
revenue liability was adjusted downward by $4.3 million,
with a corresponding increase to net retail sales, and a
$2.6 million increase in net income.
Based
on the assessment at the end of fiscal 2009, no
adjustment was made to the deferral rate.
Cost
of merchandise sold includes the cost of the merchandise,
including royalties paid to licensors of third party
branded merchandise; store occupancy cost, including
store depreciation and store asset impairment charges;
cost of warehousing and distribution; packaging;
stuffing; damages and shortages; and shipping and
handling costs incurred in shipment to customers.
Selling,
general, and administrative expenses include store
payroll and related benefits, advertising, credit card
fees, store supplies and store closing costs, as well as
central office management payroll and related benefits,
travel, information systems, accounting, insurance,
legal, and public relations. It also includes
depreciation and amortization of central office leasehold
improvements, furniture, fixtures, and equipment, as well
as amortization of trademarks and intellectual
property.
Store
preopening expenses, including store set-up, certain
labor and hiring costs, and rental charges incurred prior
to store openings are expensed as incurred.
The
costs of advertising and marketing programs are charged
to operations in the first period the program takes
place. Advertising expense was $19.3 million,
$18.5 million and $24.4 million for fiscal years 2011,
2010 and 2009, respectively.
Income
taxes are accounted for using a balance sheet approach
known as the asset and liability method. The
asset and liability method accounts for deferred income
taxes by applying the statutory tax rates in effect at
the date of the consolidated balance sheets to
differences between the book basis and the tax basis of
assets and liabilities. The noncurrent
deferred tax is reported on a jurisdictional
basis. Accordingly, noncurrent deferred tax
assets are included in other assets, net and noncurrent
deferred tax liabilities are included in other
liabilities.
Tax
positions are reviewed at least quarterly and adjusted as
new information becomes available. The
recoverability of deferred tax assets is evaluated by
assessing the adequacy of future expected taxable income
from all sources, including reversal of taxable temporary
differences, forecasted operating earnings and available
tax planning strategies. These estimates of
future taxable income inherently require significant
judgment. To the extent it is considered more
likely than not that a deferred tax asset will be not
recovered, a valuation allowance is established.
The
Company accounts for its total liability for uncertain
tax positions according to the provisions of ASC section
740-10-25. The Company recognizes estimated interest and
penalties related to uncertain tax positions in income
tax expense. See Note 9—Income Taxes for
further discussion.
Under
the two-class method, basic earnings (loss) per share is
determined by dividing net income or loss allocated to
common stockholders by the weighted average number of
common shares outstanding during the
period. Diluted earnings or loss per share
reflects the potential dilution that could occur if
options to issue common stock were
exercised. In periods in which the inclusion
of such instruments is anti-dilutive, the effect of such
securities is not given consideration.
The
Company has share-based compensation plans covering the
majority of its management groups and its Board of
Directors. The Company accounts for
share-based payments utilizing the fair value recognition
provisions of ASC section 718. The Company
recognizes compensation cost for equity awards on a
straight-line basis over the requisite service period for
the entire award. See Note 13 – Stock
Incentive Plans.
For
fiscal 2011, 2010 and 2009, selling, general and
administrative expense includes $4.6 million, $4.8
million and $4.3 million, respectively, of stock-based
compensation expense. As of December 31, 2011,
there was $6.5 million of total unrecognized compensation
expense related to nonvested restricted stock awards and
options which is expected to be recognized over a
weighted-average period of 1.6 years.
Comprehensive
income (loss) is comprised of net income or loss and
foreign currency translation adjustments.
For
purposes of financial reporting, management has
determined that the fair value of financial instruments,
including cash and cash equivalents, receivables,
accounts payable and accrued expenses, approximates book
value at December 31, 2011 and January 1,
2011.
The
preparation of the consolidated financial statements
requires management of the Company to make a number of
estimates and assumptions relating to the reported amount
of assets and liabilities and the disclosure of
contingent assets and liabilities at the date of the
consolidated financial statements and the reported
amounts of revenues and expenses during the reporting
period. The assumptions used by management in
future estimates could change significantly due to
changes in circumstances, including, but not limited to,
challenging economic conditions. Accordingly,
future estimates may change
significantly. Significant items subject to
such estimates and assumptions include the valuation of
long-lived assets, including goodwill, trade
credits and deferred income tax assets, inventories,
and the determination of deferred revenue under the
Company’s customer loyalty program.
The
Company’s revenues in the consolidated statement of
operations are net of sales taxes.
Assets
and liabilities of the Company’s foreign operations
with functional currencies other than the U.S. dollar are
translated at the exchange rate in effect at the balance
sheet date, while revenues and expenses are translated at
average rates prevailing during the
years. Translation adjustments are reported in
accumulated other comprehensive income, a separate
component of stockholders’ equity.
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| X | ||||||||||
|
- Definition
The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 3 - Prepaid Expenses and Other Assets
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] |
Prepaid
expenses and other current assets consist of the
following (in thousands):
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- Definition
The entire disclosure of claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables, and so forth. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 4 - Property and Equipment
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Property, Plant and Equipment Disclosure [Text Block] |
Property
and equipment consist of the following (in
thousands):
For
2011, 2010 and 2009, depreciation expense was $22.8
million, $24.9 million and $26.7 million,
respectively.
During
2011, the Company reviewed the operating performance and
forecasts of future performance for the stores in its
Retail segment. As a result of that review, it
was determined that several stores would not be able to
recover the carrying value of certain store leasehold
improvements through expected undiscounted cash flows
over the remaining life of the related
assets. Accordingly, the carrying value of the
assets was reduced to fair value, calculated as the net
present value of estimated future cash flows for each
asset group, and asset impairment charges of $0.4 million
were recorded in the fourth quarter of fiscal 2011, which
are included in cost of merchandise sold as a component
of net loss before income taxes in the Retail
segment. The inputs used to determine the fair
value of the assets are Level 3 inputs as defined by ASC
section 820-10. In the event that we decide to
close any or all of these stores in the future, we may be
required to record additional impairments, lease
termination charges, severance charges and other charges.
The Company recorded asset impairment charges of $0.6
million in the fourth quarter of fiscal 2010 and $3.3
million in the fourth quarter of fiscal 2009.
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- Definition
The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 5 - Goodwill
|
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Dec. 31, 2011
|
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| Schedule of Goodwill [Table Text Block] |
Goodwill
is accounted for in accordance with ASC
Section 350-20 and is reported as a component of the
Company’s Retail segment. The following
table summarizes the Company’s goodwill (in
thousands):
There
was no tax-deductible goodwill as of December 31, 2011 or
January 1, 2011.
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- Definition
Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 6 - Other Intangible Assets
|
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Dec. 31, 2011
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| Intangible Assets Disclosure [Text Block] |
Other
intangible assets consist of the following (in
thousands):
Trademarks
and intellectual property are amortized over three
years. Amortization expense related to
trademarks and intellectual property was $0.9 million,
$1.4 million and $1.3 million in 2011, 2010 and 2009,
respectively. Estimated amortization expense
related to other intangible assets as of December 31,
2011, for each of the years in the subsequent five year
period and thereafter is: 2012—$0.5 million;
2013—$0.1 million; 2014— $23,000 -;
2015— -$0- and 2016— -$0-.
During
2009, the Company reviewed the operating performance and
forecasts of future performance for the stores in its
Retail segment. As a result of that review, it
was determined that certain stores would not be able to
recover the carrying value of certain key money deposits,
included in other intangible assets, and other store
deposits, included in other assets, net, through expected
undiscounted cash flows over the remaining life of the
related assets. Accordingly, the carrying
value of the assets was reduced to fair value, calculated
as the net present value of estimated future cash flows
for each asset group, and asset impairment charges of
$1.8 million were recorded in the fourth quarter of
fiscal 2009, which are included in cost of merchandise
sold as a component of net loss before income taxes in
the Retail segment. The inputs used to
determine the fair value of the assets are Level 3 inputs
as defined by ASC section 820-10.
In
the fiscal 2010 second quarter, we reviewed the inputs
used to determine the fair value of certain key money
deposits, included in other intangible assets, and other
store deposits, included in other assets, net, through
expected undiscounted cash flows over the remaining life
of the related assets. Accordingly, the
carrying value of the assets was reduced to fair value,
calculated as the net present value of estimated future
cash flows for each asset group, and asset impairment
charges of $0.3 million were recorded in the second
quarter of fiscal 2010. As we had determined
at this time that we would be closing the related stores,
these charges are included in selling, general and
administrative expenses as a component of net income in
the retail segment. The key money deposits
were sold in 2010.
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| X | ||||||||||
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- Definition
The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 7 - Other Non-current Assets
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12 Months Ended | ||
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Dec. 31, 2011
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| Investments and Other Noncurrent Assets [Text Block] |
In
2010, certain other non-current assets were obtained
through a series of wholesale transactions whereby the
Company exchanged $6.4 million of inventory, at cost,
with a third-party vendor for $4.9 million of credits for
future media purchases and $1.5 million in
cash. The transaction was accounted for based
upon the fair values of the assets involved in the
transaction. In accordance with Accounting
Standards Codification (ASC) Section 845-10, in an
exchange transaction for trade credits, the fair value of
the asset being surrendered cannot exceed its carrying
value, meaning that the sale of the inventory was
recorded at its cost in the Commercial
segment. The trade credits expire in
2015. As of December 31, 2011 $0.7 million was
included in prepaid expenses and other current assets and
$3.9 million was included in other assets, net, related
to these credits. As of January 1, 2011, $0.7
million was included in prepaid expenses and other
current assets and $4.2 million was included in other
assets, net, related to these credits. The
Company evaluated its trade credits to determine whether
an impairment existed as of December 31,
2011. Because it is not probable the entity
will not use all the remaining barter credits based on
current utilization expectations, no impairment loss was
recognized.
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- Definition
The entire disclosure for investments and other noncurrent assets. No definition available.
|
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Note 8 - Accrued Expenses
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Dec. 31, 2011
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| Schedule of Accrued Liabilities [Table Text Block] |
Accrued
expenses consist of the following (in thousands):
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- Definition
Tabular disclosure of the components of accrued liabilities. No definition available.
|
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Note 9 - Income Taxes
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Dec. 31, 2011
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| Income Tax Disclosure [Text Block] |
The
components of the provision for income taxes are as
follows (in thousands):
A
reconciliation between the statutory federal income tax
rate and the effective income tax rate is as follows (in
thousands):
Temporary
differences that gave rise to deferred tax assets and
liabilities are as follows (in thousands):
We
evaluate the realizability of our deferred tax assets on
a quarterly basis. As the Company has incurred
a cumulative book loss over the three year period ended
December 31, 2011, management evaluated the realizability
of the Company’s deferred tax
assets. The Company performed an analysis of
all available evidence, both positive and negative,
consistent with the provisions of ASC
740-10-30-17. Some of the evidence evaluated
includes our historical operating performance, the
macroeconomic factors contributing to the recent fiscal
loss for which the tax benefits have been fully realized
by the carryback availability, and our forecast of future
taxable income, including the availability of prudent and
feasible tax planning strategies. The
three-year cumulative loss is a significant piece of
negative evidence and while management believes that it
is primarily a result of losses that were primarily
attributable to the significant economic conditions
experienced in 2009 and not an indication of continuing
operations, ASC 740 requires that objective historical
evidence be given more weight than subjective evidence,
such as forecasts of future
income. Accordingly, in the fiscal 2011 fourth
quarter, the Company recorded a $15.6 million valuation
allowance on its US deferred tax assets.
Included
in the deferred tax asset is $0.6 million related to
state net operating loss carryforwards for which a
valuation allowance of $0.6 million has been recorded and
$1.2 million related to net operating loss carryforwards
in foreign jurisdictions. Net operating loss
carryforwards in foreign jurisdictions total $4.3 million
and $5.7 million as of December 31, 2011 and
January 1, 2011, respectively. Although net
operating losses in foreign jurisdictions do not expire,
a valuation allowance of $0.6 million was recorded at
December 31, 2011 and January 1, 2011. Also
included in the deferred tax asset in $2.3 million
related to foreign tax credits for which a valuation
allowance of $2.3 million has been
recorded.
The
Company has not provided for United States income taxes
on the accumulated but undistributed earnings of its
non-U.S. subsidiaries of $20.5 million and $18.0 million
as of December 31, 2011 and January 1, 2011,
respectively, as the Company intends to indefinitely
reinvest these undistributed
earnings. However, if any portion were to be
distributed, the related U.S. tax liability may be
reduced by foreign income taxes paid on these
earnings. Determination of the unrecognized
deferred tax liability related to these undistributed
earnings is not practicable because of the complexities
with its hypothetical calculation.
A
reconciliation of the beginning and ending amount of
unrecognized tax benefits is as follows (in
thousands):
As
of December 31, 2011 and January 1, 2011,
approximately $0.2 million and $0.3 million respectively,
of the unrecognized tax benefits would impact the
Company’s provision for income taxes and effective
tax rate if recognized. In the normal course
of business, the Company provides for uncertain tax
positions and the related interest and penalties and
adjusts its unrecognized tax benefits and accrued
interest and penalties accordingly. During the
next fiscal year, it is reasonably possible to reduce
unrecognized tax benefits by $8,000 either because the
tax positions are sustained on audit or expiration of
statute of limitations.
The
Company recognizes interest and penalties related to
uncertain tax positions in income tax
expense. There was approximately $40,000 of
accrued interest related to uncertain tax positions as of
December 31, 2011 and January 1, 2011.
The
Company’s income before income taxes from domestic
and foreign operations (which include the United Kingdom,
Canada, France and Ireland), are as follows (in
thousands):
The
following tax years remain open in the Company’s
major taxing jurisdictions as of December 31,
2011:
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| X | ||||||||||
|
- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 10 - Long-Term Debt
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
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| Long-term Debt [Text Block] |
On
December 30, 2011, the Company amended its existing bank
line of credit that provides borrowing capacity for the
first half of the fiscal year of $40 million and a
seasonal overline of $50 million. The seasonal
overline is in effect from July 1 to December 31
each year. Borrowings under the credit
agreement are secured by our assets and a pledge of 65%
of our ownership interest in our foreign
subsidiaries. The credit agreement expires on
December 31, 2013 and contains various restrictions on
indebtedness, liens, guarantees, redemptions, mergers,
acquisitions or sale of assets, loans, transactions with
affiliates, and investments. It prohibits the
Company from declaring dividends without the bank’s
prior consent, unless such payment of dividends would not
violate any terms of the credit agreement. The
Company is also prohibited from repurchasing shares of
its common stock unless such purchase would not violate
any terms of the credit agreement; the Company may not
use proceeds of the line of credit to repurchase
shares. Borrowings bear interest at LIBOR plus
1.8%. Financial covenants include maintaining
a minimum tangible net worth, maintaining a minimum fixed
charge cover ratio (as defined in the credit agreement)
and not exceeding a maximum funded debt to earnings
before interest, depreciation and amortization
ratio. As of December 31, 2011: (i) the
Company was in compliance with these covenants; (ii)
there were no borrowings under our line of credit; and
(iii) there was a standby letter of credit of
approximately $1.1 million outstanding under the credit
agreement. Giving effect to this standby
letter of credit, there was approximately $48.9 million
available for borrowing under the line of credit.
|
| X | ||||||||||
|
- Definition
The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 11 - Commitments and Contingencies
|
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|
Dec. 31, 2011
|
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| Commitments and Contingencies Disclosure [Text Block] |
The
Company leases its retail stores and corporate offices
under agreements which expire at various dates through
2030. The majority of leases contain
provisions for base rent plus contingent payments based
on defined sales as well as scheduled
escalations. Total office and retail store
base rent expense was $48.2 million, $47.7 million and
$45.9 million, and contingent rents were $1.2 million,
$1.0 million and $0.9 million for 2011, 2010 and 2009,
respectively.
Future
minimum lease payments at December 31, 2011, were as
follows (in thousands):
In
the normal course of business, the Company is subject to
certain claims or lawsuits. Management is not
aware of any claims or lawsuits that will have a material
adverse effect on the consolidated financial position or
results of operations of the Company.
|
| X | ||||||||||
|
- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Note 12 - Earnings (Loss) Per Share
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Dec. 31, 2011
|
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| Earnings Per Share [Text Block] |
The
Company uses the two-class method to compute basic and
diluted earnings per common share. In periods
of net loss, no effect is given to the Company’s
participating securities as they do not contractually
participate in the losses of the Company. The
following table sets forth the computation of basic and
diluted earnings per share (in thousands, except share
and per share data):
In
calculating diluted earnings per share for fiscal 2011,
2010 and 2009, options to purchase 1,210,816, 627,456 and
805,347, respectively, shares of common stock were
outstanding at the end of the period, but were not
included in the computation of diluted earnings per share
due to their anti-dilutive effect under provisions of ASC
260-10.
Due
to the net loss in fiscal 2011 and fiscal 2009, the
denominator for diluted earnings per common share is the
same as the denominator for basic earnings per common
share for those periods because the inclusion of stock
options and unvested restricted shares would be
anti-dilutive.
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| X | ||||||||||
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- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 13 - Stock Incentive Plans
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
On
April 3, 2000, the Company adopted the 2000 Stock
Option Plan (the Plan). In 2003, the Company
adopted the Build-A-Bear Workshop, Inc. 2002 Stock
Incentive Plan, in 2004, the Company adopted the
Build-A-Bear Workshop, Inc. 2004 Stock Incentive
Plan and in 2009, the Company amended and restated the
Build-A-Bear Workshop, Inc. 2004 Stock Incentive Plan
(collectively, the Plans).
Under
the Plans, as amended, from January 3, 2009, up to
3,230,000 shares of common stock were reserved and
may be granted to employees and nonemployees of the
Company. The Plan allows for the grant of
incentive stock options, nonqualified stock options,
stock appreciation rights (SAR) and restricted
stock. Options granted under the Plan expire
no later than 10 years from the date of the
grant. The exercise price of each incentive
stock option shall not be less than 100% of the fair
value of the stock subject to the option on the date the
option is granted. The exercise price of all
options shall be the fair market value on the date of the
grant. The vesting provision of individual options is at
the discretion of the compensation committee of the board
of directors and generally ranges from one to four
years. Each share of stock awarded pursuant to
an option or subject to the exercised portion of a SAR
reduces the number of shares available by one
share. Each share of stock awarded pursuant to
any other stock-based awards, including restricted stock
grants, reduces the number of shares available by 1.27
shares.
The
following table is a summary of the balance and activity
for the Plans related to stock options for the periods
presented:
The
expense recorded related to options granted during fiscal
2011 was determined using the Black-Scholes option
pricing model and the provisions of Staff Accounting
Bulletin (SAB) 107 and 110, which allow the use of a
simplified method to estimate the expected term of
“plain vanilla” options. The assumptions used
in the option pricing model during fiscal 2011 were:
(a) dividend yield of 0%; (b) volatility of
65%; (c) risk-free interest rates ranging from 1.2%
to 2.5%; and (d) an expected life of
6.25 years. The grant date fair value of
options granted in 2011 was approximately $1.2
million.
The
assumptions used in the option pricing model during
fiscal 2010 were: (a) dividend yield of 0%;
(b) volatility of 65%; (c) risk-free interest
rates ranging from 2.1% to 3.4%; and (d) an expected
life of 6.25 years. The assumptions used
in the option pricing model during fiscal 2009 were:
(a) dividend yield of 0%; (b) volatility of
65%; (c) risk-free interest rates ranging from 2.3%
to 3.1%; and (d) an expected life of
6.25 years.
The
total intrinsic value of options exercised in fiscal 2011
and fiscal 2010 was approximately $0.1 and $0.2
million. No options were exercised in
2009. The Company generally issues new shares
to satisfy option exercises.
Shares
available for future option, non-vested stock and
restricted stock grants were 1,104,894 and 1,877,010 at
the end of 2011 and 2010, respectively.
The
following table is a summary of the balance and activity
for the Plans related to unvested restricted stock
granted as compensation to employees and directors for
the periods presented:
The
vesting date fair value of shares that vested in 2011,
2010 and 2009 was $2.5 million, $2.6 million and $1.6
million, respectively.
During
2011, 455,640 shares of non-vested restricted stock were
granted to employees of the Company. The
shares vest over a period of four years from the grant
date at a grant date fair values ranging from $5.31 to
$7.94. Various members of the Company’s
board of directors were granted an additional 77,151
shares in the aggregate of non-vested restricted stock as
compensation for services. The shares were
issued subject to a restriction of continued service on
the board of directors and all restrictions lapse one
year from the grant date or upon a director’s
retirement upon the completion of his or her term, if
earlier.
During
2010, 402,656 shares of non-vested restricted stock were
granted to employees of the Company. The
shares vest over a period of four years from the grant
date at grant date fair values ranging from $5.94 to
$9.64. Various members of the Company’s
board of directors were granted an additional 83,646
shares in the aggregate of non-vested restricted stock as
compensation for services. The shares were
issued subject to a restriction of continued service on
the board of directors and all restrictions lapse one
year from the grant date or upon a director’s
retirement upon the completion of his or her term, if
earlier.
During
2009, 564,045 shares of non-vested restricted stock were
granted to employees of the Company. The
shares vest over a period of four years from the grant
date at grant date fair values ranging from $4.41 to
$5.14. An additional 460,990 shares were
granted to certain employees at grant date fair values
ranging from of $4.25 to $4.49. These shares
cliff vest three years from the grant
date. Various members of the Company’s
board of directors were granted an additional 119,308
shares in the aggregate of non-vested restricted stock as
compensation for services. The shares were
issued subject to a restriction of continued service on
the board of directors and all restrictions lapse one
year from the grant date or upon a director’s
retirement upon the completion of his or her term, if
earlier.
The
aggregate unearned compensation expense related to
options and restricted stock was $6.5 million as of
December 31, 2011. Based on the vesting
provisions of the underlying equity instruments, future
compensation expense related to previously issued options
and restricted stock at December 31, 2011 will be as
follows (in thousands):
The
outstanding non-vested restricted stock is included in
the number of outstanding shares on the face of the
consolidated balance sheets, but is treated as
outstanding stock options for accounting
purposes. The shares of non-vested restricted
stock, accounted for as options, are included in the
calculation of diluted earnings per share using the
two-class, with the proceeds equal to the sum of
unrecognized compensation cost.
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| X | ||||||||||
|
- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 14 - Stockholders’ Equity
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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| Stockholders' Equity Note Disclosure [Text Block] |
The
following table summarizes the changes in outstanding
shares of common stock for fiscal 2009, 2010 and
2011:
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| X | ||||||||||
|
- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 15 - Employee Benefit Plans
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
|
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| Compensation and Employee Benefit Plans [Text Block] |
401(k)
Savings Plan
During
2000, the Company established a defined contribution plan
that conforms to IRS provisions for 401(k)
plans. The Build-A-Bear Workshop, Inc.
Employees Savings Trust covers associates who work
1,000 hours or more in a year and have attained
age 21. The Company, at the discretion of
its board of directors, can provide for a Company match
on the first 6% of employee deferrals. For
2011, the Company provided a match of 30% on the first 6%
of employee deferrals totaling $0.3
million. For 2010, the Company provided a
match of 25% on the first 6% of employee deferrals
totaling $0.3 million. In 2009, the Company
provided a match of 15% on the first 6% of employee
deferrals totaling $0.2 million. The Company
match vests over the first five years of
employment.
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| X | ||||||||||
|
- Definition
The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. No definition available.
|
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Note 16 - Related-Party Transactions
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2011
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| Related Party Transactions Disclosure [Text Block] |
The
Company bought fixtures for new stores and furniture for
the corporate offices from a related
party. The total payments to this related
party for fixtures and furniture amounted to $0.5
million, $0.6 million and $0.1 million, in 2011, 2010 and
2009, respectively. The total amount due to
this related party as of December 31, 2011 and
January 1, 2011 was $-0- and $0.1 million,
respectively.
The
Company made charitable contributions of $2.4 million,
$2.8 million and $0.9 million in 2011, 2010 and 2009,
respectively, to charitable foundations controlled by
certain executive officers of the
Company. Substantially all of the
contributions are collected from guests at the point of
sale via pin pad prompts or as a portion of the proceeds
of specifically identified products. The
foundations support a variety of children’s causes,
domestic animal shelters, disaster relief and other
concerns. The foundations distribute grants to
qualifying charitable organizations based upon decisions
of their respective contribution committees most of whose
members are employees of the Company. The
total due to the charitable foundations as of December
31, 2011 and January 1, 2011 was $0.5 million and
$0.6 million, respectively.
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| X | ||||||||||
|
- Definition
The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 17 - Investment in Affiliate
|
12 Months Ended | ||
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Dec. 31, 2011
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| Equity Method Investments Disclosure [Text Block] |
The
Company holds a minority interest in Ridemakerz, LLC,
which is accounted for under the equity
method. Ridemakerz has developed a wholesale
toy product line and selectively operates interactive
retail stores, primarily in tourist locations that allow
children and families to build and customize their own
personalized cars. From 2006 through 2008, the
Company invested $5.5 million in cash and entered into a
series of agreements whereby the Company agreed to
perform advisory and operational support services for
Ridemakerz in exchange for additional
equity. The Company received a total of $3.6
million in equity in exchange for support services
provided in fiscal 2007 through 2009. As of
December 31, 2011, the Company retained an ownership
interest of approximately 15%. Under the
current agreements, as of the balance sheet date, the
Company could own up to approximately 24% of fully
diluted equity in Ridemakerz.
In
2006, the Company also purchased a call option from a
group of other Ridemakerz investors for $150,000 for
1.25 million Ridemakerz common units at an exercise
price of $1.25 per unit. The call option was
immediately exercisable and expires April 30,
2012. Simultaneously, the Company granted a
put option to the same group of investors for
1.25 million common units at an exercise price of
$0.50 per unit. The put option was exercised
on all 1.25 million shares on February 13,
2012. After the exercise, the Company’s
ownership interest was approximately
18%. Under the current agreements, as of the
exercise date, the Company could own up to approximately
24% of fully diluted equity in Ridemakerz.
In
fiscal 2009, the Company recorded non-cash pre-tax loss
allocations of $7.5 million. In the 2009
fourth quarter, the Company determined that its
investment in Ridemakerz had experienced an other than
temporary decline in its fair value due to continued
significant losses and uncertainty as to the ultimate
results of their restructuring. Accordingly,
an additional non-cash charge of $1.0 million was
recorded. Additionally, the Company wrote-off
$1.1 million in receivables from
Ridemakerz. The combination of these charges
reduced the book value of the Company’s investment
to zero. All of these charges are included in
“Losses from investment in affiliate” in the
Consolidated Statements of Operations and are part of the
Retail segment. No income or loss allocations,
impairments or other charges related to Ridemakerz were
recorded in fiscal 2011 or 2010
As
of December 31, 2011 and January 1, 2011,
outstanding receivables from Ridemakerz were $-0-.
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| X | ||||||||||
|
- Definition
The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 18 - Major Vendors
|
12 Months Ended | ||
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Dec. 31, 2011
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| Concentration Risk Disclosure [Text Block] |
Three
vendors, each of whose primary manufacturing facilities
are located in China, accounted for approximately 81%,
73% and 80% of inventory purchases in 2011, 2010 and
2009, respectively.
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| X | ||||||||||
|
- Definition
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 19 - Segment Information
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Dec. 31, 2011
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| Segment Reporting Disclosure [Text Block] |
The
Company’s operations are conducted through three
operating segments consisting of retail, international
franchising, and commercial. The retail
segment includes the operating activities of
company-owned stores in the United States, Canada, the
United Kingdom, Ireland, France and other retail delivery
operations, including the Company’s web store,
temporary stores and non-traditional store locations such
as baseball ballparks. The international
franchising segment includes the licensing activities of
the Company’s franchise agreements with store
locations in Europe, Asia, Australia, Africa, the Middle
East, Mexico and South America. The commercial
segment has been established to market the naming and
branding rights of the Company’s intellectual
properties for third party use. The operating
segments have discrete sources of revenue, different
capital structures and different cost
structures. These operating segments represent
the basis on which the Company’s chief operating
decision maker regularly evaluates the business in
assessing performance, determining the allocation of
resources and the pursuit of future growth
opportunities. Accordingly, the Company has
determined that each of its operating segments represent
one reportable segment. The reportable
segments follow the same accounting policies used for the
Company’s consolidated financial
statements. Following is a summary of the
financial information for the Company’s reporting
segments (in thousands):
The
Company’s reportable segments are primarily
determined by the types of products and services that
they offer. Each reportable segment may
operate in many geographic areas. Revenues are
recognized in the geographic areas based on the location
of the customer or franchisee. The following
schedule is a summary of the Company’s sales to
external customers and long-lived assets by geographic
area (in thousands):
For
purposes of this table only:
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| X | ||||||||||
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 20 - Subsequent Events
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12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2011
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| Subsequent Events [Text Block] |
On
February 23, 2012, the Company announced the extension of
its previously announced $50 million share repurchase
program until March 31, 2013, subject to further
extension by the Company’s Board of
Directors. The Company currently intends to
purchase up to $50 million of its common stock in the
open market (including through 10b5-1 plans), through
privately negotiated transactions or through an
accelerated repurchase transaction. The
primary source of funding for the program is expected to
be cash on hand. The timing and amount of
share repurchases, if any, will depend on price, market
conditions, applicable regulatory requirements, and other
factors. The program does not require the
Company to repurchase any specific number of shares and
may be modified, suspended or terminated at any time
without prior notice. Shares repurchased under
the program will be subsequently retired. As
of March 12, 2011, there was $8.7 million of availability
remaining under the program.
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| X | ||||||||||
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Schedule II - Valuation and Qualifying Accounts
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12 Months Ended | |||||||||||||||||||||||||
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Dec. 31, 2011
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| Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] |
Schedule
II – Valuation and Qualifying Accounts
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| X | ||||||||||
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- Definition
The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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