Build-A-Bear Workshop: The Reasons Why We Downgrade To Hold

wdstockBuild-A-Bear Workshop, Inc. (NYSE:BBW) operates as a multi-channel retailer of plush animals and related products in the United States and internationally. We first wrote about BBW in September 2022, when we assigned a bearish rating to the firm, primarily due to the unstable macroeconomic environment as well as the firm’s capital allocation decisions. Shortly after our writing, we were proven wrong. Stock price has substantially increased and the firm’s financial performance has remained strong. ...