February 24, 2010, 12:00 AM

Web sales and total sales decline in 2009 for Build-A-Bear Workshop

Web sales and total revenue declined by 0.9% and 15.7%, respectively, last year for Build-A-Bear. But e-commerce sales increased 13.6% in Q4.

Customized stuffed animal retailer Build-A-Bear Workshop Inc. ended the year with a decrease in both web sales and total revenue.

For the year ended Jan. 2, Build-A-Bear Workshop, No. 450 in the Internet Retailer Top 500 Guide, reported:

  • Web sales of $11.0 million for the year were down 0.9% from $11.1 million in 2008.
  • Web sales were 2.9% of total retail sales, compared with 2.4% a year ago.
  • Total revenue fell 15.7% to $394.4 million from $467.9 million in 2008.
  • Net loss was $12.5 million, compared with net income of $4.6 million in 2008.
  • The retailer didn’t break out a number for year-over-year comparable-store sales.

“We made solid progress in 2009 including improved North American comparable-store sales trends each quarter of the year, a strong performance in Europe, a $25 million reduction in expenses and positive cash flow,” says Build-A-Bear CEO Maxine Clark.

 

For the fourth quarter, Build-A-Bear also reported:

  • Web sales of $5.0 million, up 13.6% from $4.4 million in the fourth quarter of 2008.
  • Web sales were 4.1% of total retail sales, compared with 3.1% a year ago.
  • Total revenue fell 13.5% to $122.9 million from $142.1 million in the fourth quarter of 2008.
  • Net loss was $916,000, compared with net income of $4.9 million in the last quarter of 2008.
  • Comparable-store sales were down 12.9%.

Build-A-Bear had 345 stores as of Jan. 2, up from 288 a year ago. “We continue to aggressively focus on cost reduction programs over and above the $25 million achieved in fiscal 2009. We believe our strategies will lead to increased sales productivity and profitability with our actions already showing progress,” says Clark.

 

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Deepak Agarwal / E-Commerce

Back-to-school insights from a Top 100 online retailer

It’s the second-largest online shopping season, and one nomorerack.com CEO pays close attention to. Here ...

FPO

Kevin Sterneckert / E-Commerce

The ghost economy: an $800 billion retail data disconnect

A new twist on a classic holiday story that online retailers will relive in the ...

Advertisement