Build-A-Bear web sales climb 10.2%, outpacing overall sales growth
Stuffed animal retailer Build-A-Bear Workshop reported $1.87 million in Internet sales for the third quarter of fiscal 2007, up 10.2% compared with $1.7 million in the same quarter last year. The retailer reported $109.8 million in total revenue for the third quarter of fiscal 2007, up 8.2% from $101.5 million in the same quarter last year.
Net income for the quarter, ended Sept. 29, 2007, was $3 million, up 11% from $2.7 million in the prior year quarter.
Fiscal 2007 third quarter total revenue includes net retail sales of $108.4 million, an increase of $7.8 million, or 7.8% compared to last year’s third quarter. Retail sales at Build-A-Bear, No. 411 in the Internet Retailer Top 500 Guide, accounted for 98.7% of all revenue, the remainder came from franchise and third-party licensing fees.
The company attributes net retail sales growth to increased web sales of $1.87 million, new stores opened during the past 12 months in North America and an increase in sales from European operations of $4.3 million.
Comparable store sales in North America declined 10.1% in Q3 2007, compared with a decline of 5.8% in the prior year quarter. Sales from European operations totaled $13.7 million in the 2007 third quarter, compared to $9.4 million in the 2006 third quarter, an increase of 46%.
Expansion into France during the third quarter brought to 45 the number of stores located in the United Kingdom, Ireland and France. Build-A-Bear also reported 264 stores in North America at the end of the third quarter.
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