Web sales grow 15% in Q4 as the retailer closes stores.
Web sales were the lone bright spot for Build-A-Bear Workshop Inc. in 2012 and the year’s fourth quarter. In 2013 the retailer of personalized teddy bears says it plans to close 50-60 retail stores and refocus on brand messaging in its marketing programs while improving user experience. Build-A-Bear is No. 538 in Internet Retailer Second 500 guide.
For the fiscal year ended Dec. 29, Build-A-Bear reported:
“While we are disappointed with our overall results, in the fourth quarter, we increased comparable-store sales in North America, showing a marked improvement from the third quarter,” says Maxine Clark, CEO of Build-A-Bear. “This increase was driven by the initial benefit of our brand-building marketing campaigns, particularly in the U.S., and a return to traditional holiday product offerings. The U.K. remained challenging, which drove down our consolidated comparable-store sales.”
For the fourth quarter ended Dec. 29, Build-a-Bear reported: