Build-A-Bear Falls To 1st-quarter Loss

NEW YORK (AP) — Build-A-Bear Workshop Inc. reported a 1st-quarter loss on Thursday as weak mall traffic and lower demand for its customizable stuffed animals persisted.

Analysts had expected a profit and investors sent shares down $1.30, or 18.9 percent, to $5.58 during midday trading. The stock has traded between $3.02 and $11.45 during the past 52 weeks.

Loss for the three months ended April 4 totaled $826,000, or 4 cents per share, compared with net income of $6.4 million, or 32 cents per share, last year. Excluding a charge related to closing a retail concept, the latest profit was 2 cents per share.

Revenue fell 21 percent to $97.3 million from $123.8 million last year.

Analysts polled by Thomson Reuters, on average, predicted a profit of 14 cents per share on revenue of $113.4 million.

Sales in stores open at least one year, a key metric known as same-store sales, fell 17.8 percent in the quarter. But there were some bright spots, the company said.

"When consumers were in the mall — for example, Valentine's Day and Easter — we saw significant improvement in our sales and we are working to maximize these trends over the balance of the year," said company Chief Executive Maxine Clark.

Also, while same-store sales fell 20.5 percent in North America, they rose 5.6 percent in Europe.