Online sales sweeten results for Build-A-Bear Workshop

Internet sales were up 24.1% to $3.1 million in the first three months of 2007 at Build-A-Bear Workshop Inc. Overall, the retailer of stuffed animals reported revenue of $116.8 million for the quarter, up 18% from $98.6 million the prior year.

The company, No. 400 in the Internet Retailer Top 500 Guide, reported first-quarter net income of $8.1 million, or 39 cents a share, compared with $8.3 million, or 41 cents, in the year-ago quarter. Company executives noted per-share results were reduced 14 cents in the first quarter of 2007 by the company’s acquisition of stuffed animal retailer The Bear Factory Ltd. of the United Kingdom, a deal which closed shortly after the first quarter of 2006.

“Our results in the first quarter were in line with our plans,” says Maxine Clark, chairman of the company and “chief executive bear.”

Build-A-Bear also reported that it has increased to $2.96 million its investment in Retail Entertainment Concepts LLC, also known as RIDEMAKERZ, a company developing a car-personalization concept for children.