Build-A-Bear Workshop(BBW) - 2026 Q1 - Quarterly Results

Financial Performance - Total revenues for Q1 fiscal 2025 reached a record $128.4 million, an increase of 11.9% compared to the same period last year[3] - Pre-tax income for the quarter was a record $19.6 million, reflecting a year-over-year increase of 30.6%[4] - Diluted earnings per share (EPS) increased by 42.7% to $1.17, driven by higher pre-tax income and a reduced share count[10] - Net retail sales amounted to $119.6 million, up 10.9%, while consolidated e-commerce demand grew by 0.5%[4] - EBITDA for the 13 weeks ended May 3, 2025, was $23,131 thousand, compared to $18,261 thousand for the same period in 2024, reflecting a year-over-year increase of 26.5%[30] - Retail gross margin for the 13 weeks ended May 3, 2025, was $68,018 thousand, a 16.5% increase from $58,453 thousand for the same period in 2024, resulting in a gross margin percentage of 56.9%[27] Shareholder Returns - The company returned $7.1 million to shareholders through share repurchases and dividends, with $44.3 million in cash at the end of the quarter[3] Future Guidance - The company expects total revenues to grow on a mid-single-digit percentage basis for fiscal 2025[11] - Pre-tax income guidance for fiscal 2025 is updated to a range of $61 million to $67 million[11] Growth and Expansion - The company had net new unit growth of 15 global experience locations, bringing the total to 604 locations[5] - The number of corporately-managed retail locations increased to 369 in May 2025, up from 357 in May 2024, indicating a growth of 3.4%[27] - The number of franchised stores increased to 87 in May 2025, compared to 77 in May 2024, reflecting a growth of 13.0%[27] Inventory and Assets - Inventory at the end of the quarter was $72.3 million, an increase of 12.9% year-over-year[7] - Total assets increased to $308,303 thousand in May 2025, up from $289,956 thousand in February 2025, representing a growth of 4.6%[25] Capital Expenditures - Capital expenditures for the quarter totaled $2.9 million, compared to $2.4 million in the previous year[8] - Capital expenditures for the 13 weeks ended May 3, 2025, were $2,907 thousand, an increase from $2,430 thousand in the same period of 2024, marking a rise of 19.6%[27] Liabilities and Equity - Total current liabilities increased to $85,351 thousand in May 2025, up from $79,394 thousand in February 2025, representing a rise of 7.4%[25] - The total stockholders' equity increased to $148,682 thousand in May 2025, up from $139,082 thousand in February 2025, representing a growth of 6.0%[25] - Retained earnings rose to $98,243 thousand in May 2025, compared to $89,516 thousand in February 2025, showing an increase of 9.7%[25] Operating Assets - Operating lease right-of-use asset increased to $92,699 thousand in May 2025, compared to $90,200 thousand in February 2025, indicating a growth of 2.8%[25]