Build-A-Bear Workshop, Inc. Updates Sales Expectations for Fiscal Year 2018 Ahead of ICR Conference
14 1월 2019 - 8:45PM
Business Wire
Build-A-Bear Workshop, Inc. (NYSE:BBW) today updated its revenue
expectations for the 2018 fiscal year in conjunction with its
presentation at the ICR Conference 2019.
For the fiscal 2018 year, the Company is lowering revenue
guidance and currently expects:
- Total revenues in the range of $335
million to $340 million for the 52-week period ending February 2,
2019 inclusive of the negative impact of $3.9 million due to the
adoption of new accounting standards effecting the timing of the
recognition of breakage revenue for certain gift cards and the
nonoccurrence of the prior year benefit of $6.0 million for a 53rd
week in revenue. Total revenues were $364.0 million for the recast
53-week period ended February 3, 2018. The $9.9 million impact of
these two items would adjust total fiscal 2017 recast year revenues
to $354.1 million.
- Within the Company’s Direct-To-Consumer
segment, total revenues in North America are expected to decline by
approximately 2% compared to the adjusted recast 2017 fiscal year
and total revenues in Europe are expected decline in the range of
17% to 20% compared to the adjusted recast 2017 fiscal year.
Sharon Price John, Build-A-Bear Workshop Chief Executive Officer
commented, “We believe that fiscal 2018 had several anomalies that
converged to negatively impact our business. The shortfall in our
year’s results are largely attributed to the persistent and
significant revenue and profitability challenges in the UK as
unresolved issues related to Brexit negatively impacted consumer
confidence and currency exchange rates and new privacy laws, known
as GDPR, impeded our marketing communications. Other factors
included: a decline in licensed product sales due to significantly
fewer family-centric, character-based movies; the continuation of
overall declines and changing composition of mall traffic; the
closure of a flagship store location that represented over $7
million in North American revenue; liquidation of one of the
largest global toy retailers; and a number of accounting and tax
changes that negatively affected both top and bottom line results.
Even with these disruptions, on a full-year basis, we expect total
revenue in our largest market, North America, which is most
reflective of our planned future state, to be down only low-single
digits as compared to an estimated 17% to 20% revenue drop outside
North America, largely isolated to the UK.
“Post-Christmas, our sales trend has been positive, which
includes gift card redemptions and initial sales of licensed
product associated with the upcoming family film, “How To Train
Your Dragon: The Hidden World”, which will be released next month
in the U.S. and the U.K. We also expect to benefit from a planned
integrated event and promotion to celebrate National Hug Day on
January 21st. With many of this year’s disruptions behind us, we
look forward to moving into 2019 which has one of the most robust
family movie offerings slated throughout the year, in stark
contrast to 2018, including anticipated blockbusters in “The Lion
King” and “Frozen 2.” We continue to believe that the Build-A-Bear
brand remains strong and are focused on our strategies to monetize
that brand equity, diversify our retail footprint with the
optionality that is a result of innovation in flexible store models
and aggressive lease negotiations, and digital growth opportunities
leveraging our more than 6 million loyalty program members to
increase lifetime value.”
The Company is scheduled to present at the at the ICR Conference
2019 held at the Grande Lakes Hotel and Resort in Orlando, Florida
on Monday, January 14, 2019, at 9:00 a.m. EST. The presentation
will be broadcast over the internet and can be accessed at the
Company’s investor relations website, http://IR.buildabear.com. The
presentation is expected to conclude by 9:25 a.m. EST. A replay of
the broadcast will remain on the Company’s investor relations
website for one year.
About Build-A-Bear Workshop, Inc.
Build-A-Bear is a global brand kids love and parents trust that
seeks to add a little more heart to life. Build-A-Bear Workshop has
over 400 stores worldwide where guests can create customizable
furry friends, including corporately-managed stores in the United
States, Canada, China, Denmark, Ireland, Puerto Rico, and the
United Kingdom, and franchise stores in Africa, Asia, Australia,
Europe, Mexico and the Middle East. In 2018, Build-A-Bear was named
to the FORTUNE 100 Best Companies to Work For® list for the 10th
year in a row. Build-A-Bear Workshop, Inc. (NYSE:BBW) posted total
revenue of $357.9 million in fiscal 2017. For more information,
visit the Investor Relations section of buildabear.com.
Forward-Looking Statements:
This press release contains certain statements that are, or may
be considered to be, “forward-looking statements” for the purpose
of federal securities laws, including, but not limited to,
statements that reflect our current views with respect to future
events and financial performance. We generally identify these
statements by words or phrases such as “may,” “might,” “should,”
“expect,” “plan,” “anticipate,” “believe,” “estimate,” “intend,”
“predict,” “future,” “potential” or “continue,” the negative or any
derivative of these terms and other comparable terminology. All of
the information concerning our future liquidity, future revenues,
margins and other future financial performance and results,
achievement of operating of financial plans or forecasts for future
periods, sources and availability of credit and liquidity, future
cash flows and cash needs, success and results of strategic
initiatives and other future financial performance or financial
position, as well as our assumptions underlying such information,
constitute forward-looking information.
These statements are based only on our current expectations and
projections about future events. Because these forward-looking
statements involve risks and uncertainties, there are important
factors that could cause our actual results, level of activity,
performance or achievements to differ materially from the results,
level of activity, performance or achievements expressed or implied
by these forward-looking statements, including those factors
discussed under the caption entitled “Risks Related to Our
Business” and “Forward-Looking Statements” in our Annual Report on
Form 10-K filed with the Securities and Exchange Commission (“SEC”)
on March 15, 2018 and other periodic reports filed with the SEC
which are incorporated herein.
All of our forward-looking statements are as of the date of this
Press Release only. In each case, actual results may differ
materially from such forward-looking information. We can give no
assurance that such expectations or forward-looking statements will
prove to be correct. An occurrence of or any material adverse
change in one or more of the risk factors or other risks and
uncertainties referred to in this Press Release or included in our
other public disclosures or our other periodic reports or other
documents or filings filed with or furnished to the SEC could
materially and adversely affect our continuing operations and our
future financial results, cash flows, available credit, prospects
and liquidity. Except as required by law, the Company does not
undertake to publicly update or revise its forward-looking
statements, whether as a result of new information, future events
or otherwise.
All other brand names, product names, or trademarks belong to
their respective holders.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190114005139/en/
Investors:Voin TodorovicBuild-A-Bear Workshop314.423.8000
x5221
Media:Beth KerleyBuild-A-Bear Workshopbethk@buildabear.com
Build A Bear Workshop (NYSE:BBW)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Build A Bear Workshop (NYSE:BBW)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024