Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Total sales didn’t keep pace, dipping almost 3%.
Build-A-Bear Workshop Inc. saw double-digit e-commerce growth in the third quarter, but total sales declined.
For the quarter ended Oct. 1, Build-a-Bear, a retailer of customizable stuffed animals, reported:
- Web sales were $2.4 million, an increase of about 20% from $2.0 million in Q3 2010.
- Total sales decreased 2.7%, to $97.4 million from $100.1 million.
- Comparable-stores sales increased 1.1%.
- Net income was about $900,000 compared with a net loss of $1.4 million in the third quarter of fiscal 2010.
Internet Retailer calculates the web accounted for 2.5% of total sales for the quarter, compared with 2.0% in the same period last year.
“We delivered another quarter of positive comparable -store sales, increased e-commerce sales, improved our retail gross margin and reduced expenses,” says Maxine Clark, Build-A-Bear Workshop's chairman and chief executive. “In addition, international revenues grew by 14% showing solid progress towards our global expansion goals.”
Build-a-Bear, No. 494 in the Internet Retailer Top 500 Guide, did not break out international sales.
For the first nine months:
- Web sales were $7.4 million, an increase of about 13.8% from $6.5 million in Q3 2010.
- Total sales were $275.2 million, down by 0.2% from $275.7 million in the first nine months of fiscal 2010.
- Comparable-stores sales decreased 0.9%.
- Net loss was $8.1 million, compared with a loss of $8.2 million in the first nine months of fiscal 2010.
Internet Retailer calculates the web accounted for 2.7% of total sales for the first nine months, compared with 2.4% in the same period of 2010.