- Build-A-Bear Workshop (NYSE:BBW) reported third-quarter FY22 sales growth of 9.9% year-on-year to $104.48 million, beating the consensus of $102.62 million.
- Net retail sales rose 8.3% Y/Y, and e-commerce demand declined 29.4%.
- Gross profit increased 9.5% Y/Y to $54.3 million. The gross margin of 52% contracted by 10 basis points Y/Y.
- The company held $12 million in cash and equivalents as of October 29, 2022.
- Inventories at the end of Q3 were $88.3 million, an increase of $26.4 million from the end of 3Q21.
- EPS for the quarter was $0.51 versus $0.36 last year.
- Outlook: Build-A-Bear sees FY22 sales of $455 million – $465 million (prior view $440 million – $460 million) versus the consensus of $458.51 million.
- The company expects FY22 EBITDA of $69 million – $76 million (prior view $65 million – $75 million).
- Price Action: BBW shares are trading higher by 12.02% at $21.71 in premarket on the last check Wednesday.
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