Build-A-Bear Workshop Reports Fourth and Record Fiscal 2025 Results; Increases Quarterly Dividend
ST. LOUIS--( BUSINESS WIRE)--Build-A-Bear Workshop, Inc. (NYSE: BBW) today announced results for the fourth quarter of fiscal year 2025 ended January 31, 2026.
“We are pleased to report a year of solid revenue expansion, driven by growth across each of our three operating segments. This momentum, even amid external distractions, was further supported by the successful opening of more than 60 net new units across multiple geographies for the second year in a row,” commented Sharon Price John, President and Chief Executive Officer of Build-A-Bear Workshop. “Looking ahead, with a strong plan and key infrastructure in place, given we have now surpassed the half‑billion‑dollar milestone revenue mark this fiscal year, we are focused on further leveraging our success and the power of our brand to drive more incremental business,” concluded Ms. John.
Voin Todorovic, Chief Financial Officer of Build-A-Bear Workshop, added, “The company achieved its fifth consecutive year of record revenue and pre-tax income. These results reflect approximately $11 million in tariffs and related costs that we partially offset through continued operational excellence, strong store contribution margins, and actions to further diversify our business model. This consistent performance, together with solid cash flow generation, has enabled us to return more than $170 million to shareholders through stock repurchases and dividends over the past five years."
Fourth Quarter Fiscal 2025 Results
(13 weeks ended January 31, 2026, compared to the 13 weeks ended February 1, 2025)
Fiscal Year 2025 Results
(52 weeks ended January 31, 2026, compared to the 52 weeks ended February 1, 2025)
Store Activity
For the quarter, the Company had net new unit growth of 11 global experience locations, comprising 10 partner-operated and one franchise location. For the year, the Company had net new unit growth of 64 global experience locations, comprising seven corporately-managed, 40 partner-operated, and 17 franchise locations.
At the end of the fiscal year, Build-A-Bear had 662 locations, reflecting 375 corporately-managed, 178 partner-operated, and 109 franchise locations.
Balance Sheet
At fiscal year-end, cash and cash equivalents totaled $26.8 million, a decrease of $1.0 million, or 3.6%, compared with last year. The Company finished the quarter with no borrowings under its revolving credit facility.
For the fourth quarter and fiscal 2025, capital expenditures totaled $12.7 million and $25.5 million, respectively.
Inventory at fiscal year-end totaled $82.2 million, an increase of $12.4 million, or 17.8%, compared with last year, driven by higher tariffs and inventory levels required to support expected increased sales activity. The Company remains comfortable with the level and composition of its inventory.
Return of Capital to Shareholders
For the fourth quarter, the Company utilized $10.1 million in cash to repurchase 172,904 shares of its common stock and paid a quarterly cash dividend of $2.8 million to shareholders. For fiscal 2025, the Company utilized $27.5 million in cash to repurchase 508,945 shares of its common stock and paid $11.5 million in quarterly cash dividends to shareholders.
Since the end of the fourth quarter through March 11, the Company has utilized $6.7 million in cash to repurchase an additional 132,230 shares of its common stock. The Company has $55.0 million remaining under the board-authorized $100.0 million stock repurchase program adopted on September 11, 2024.
2026 Outlook
The Company issues the following fiscal 2026 outlook:
In addition, for fiscal 2026, the Company currently expects:
The Company’s outlook considers various factors, including tariffs, labor costs, changes in freight expense, and ongoing inflationary challenges. Separately, the Company’s outlook does not contemplate any further material changes in tariffs, the macroeconomic conditions, or relevant foreign currency exchange rates. Finally, the Company’s outlook does not take into account the potential impact of the current geopolitical environment arising from events in the Middle East.
Note Regarding Non-GAAP Financial Measures
In this press release, the Company’s financial results are provided both in accordance with generally accepted accounting principles (GAAP) and using certain non-GAAP financial measures. In particular, the Company provides historic income adjusted to exclude certain costs, which are non-GAAP financial measures. These results are included as a complement to results provided in accordance with GAAP because management believes these non-GAAP financial measures help identify underlying trends in the Company’s business and provide useful information to both management and investors by excluding certain items that may not be indicative of the Company’s core operating results. These measures should not be considered a substitute for or superior to GAAP results. These non-GAAP financial measures are defined and reconciled to the most comparable GAAP measure later in this document.
Webcast and Conference Call Information
Today, at 9:00 AM ET, Build-A-Bear Workshop will host a conference call with investors and financial analysts to discuss its financial results. The call will be webcast on Build-A-Bear’s Investor Relations website, https://ir.buildabear.com.
The dial-in number for the live conference call is (877) 407-3982 or (201) 493-6780 for international callers. The access code is Build-A-Bear. The call is expected to conclude by 10 AM ET.
A replay of the conference call webcast will be available on the investor relations website for one year. A telephone replay will be available from approximately 1:00 p.m. ET on Thursday, March 12, 2026, until 11:59 p.m. ET on Thursday, March 26, 2026. The telephone replay is available by calling (412) 317-6671 (toll/international) or (844) 512-2921 (toll-free). The access code is 13758473.
About Build-A-Bear
Founded in 1997, Build‑A‑Bear is a leading global retailtainment brand on a mission to add a little more heart to life. At Build-A-Bear, guests are invited to create personalized furry friends through a unique stuffing, dressing, accessorizing and naming process, accentuated by a memorable "heart ceremony" that creates moments of connection for people of all ages.
Over the years, Build‑A‑Bear has grown into a multi‑generational phenomenon, positioned at the intersection of pop‑culture trends. Beyond its signature retail experience, the brand also offers pre‑stuffed plush, gifting, partnerships with best‑in‑class licensed and collectible characters, and original storytelling through Build‑A‑Bear Entertainment, LLC. Build‑A‑Bear’s current brand platform and message, “The Stuff You Love,” crosses ages and cultures while celebrating nearly 30 years of helping people mark life’s meaningful moments.
Today, Build‑A‑Bear operates more than 650 company-owned, partner-operated and franchise experience locations across more than 30 countries, complemented by buildabear.com. Build‑A‑Bear Workshop, Inc. (NYSE: BBW) reported $529.8 million in total revenues for fiscal 2025, representing the company's 5th consecutive year of record results. Learn more at 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 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 April 18, 2024 and other periodic reports filed with the SEC which are incorporated herein.
All 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.
BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations
(dollars in thousands, except share and per share data)
13 Weeks
13 Weeks
Ended
Ended
January 31,
% of Total
February 1,
% of Total
2026
Revenues (1)
2025
Revenues (1)
139,464
90.3
139,499
92.7
13,558
8.8
9,529
6.3
1,489
1.0
1,418
1.0
154,511
100.0
150,446
100.0
61,328
44.0
60,062
43.1
6,655
49.1
4,229
44.4
1,218
81.8
1,011
71.3
69,201
44.8
65,302
43.4
85,310
55.2
85,144
56.6
63,935
41.4
57,796
38.4
(174
)
(0.1
)
(138
)
(0.1
)
21,549
13.9
27,486
18.3
5,154
3.3
5,808
3.9
16,395
10.6
21,678
14.4
1.26
1.63
1.26
1.62
12,978,854
13,297,099
13,021,011
13,355,474
(1)
52 Weeks
52 Weeks
Ended
Ended
January 31,
% of Total
February 1,
% of Total
2026
Revenues (1)
2025
Revenues (1)
485,956
91.7
460,325
92.8
38,750
7.3
31,387
6.3
5,126
1.0
4,692
0.9
529,832
100.0
496,404
100.0
213,229
43.9
207,200
45.0
17,199
44.4
13,439
42.8
3,775
73.6
3,247
69.2
234,203
44.2
223,886
45.1
295,629
55.8
272,518
54.9
229,203
43.3
206,238
41.5
(801
)
(0.2
)
(861
)
(0.2
)
67,227
12.7
67,141
13.5
15,024
2.8
15,356
3.1
52,203
9.9
51,785
10.4
4.00
3.81
3.99
3.80
13,045,394
13,578,587
13,083,436
13,621,075
(1)
BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Balance Sheets
(dollars in thousands, except per share data)
January 31,
February 1,
February 3,
2026
2025
2024
ASSETS
$
26,755
$
27,758
$
44,327
82,203
69,775
63,499
21,459
16,096
8,569
9,603
12,669
11,377
140,020
126,298
127,772
$
121,129
90,200
73,443
70,926
59,761
55,262
7,370
7,596
8,682
6,008
6,101
7,166
$
345,453
$
289,956
$
272,325
LIABILITIES AND STOCKHOLDERS' EQUITY
15,318
$
16,538
$
16,170
26,104
16,209
19,954
28,651
26,841
25,961
15,289
15,791
18,134
5,264
4,015
3,514
90,626
79,394
83,733
98,647
70,155
57,609
1,152
1,325
1,321
128
133
142
60,821
61,987
66,330
(10,760
)
(12,554
)
(12,082
)
104,839
89,516
75,272
155,028
139,082
129,662
$
345,453
$
289,956
$
272,325
BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES
Unaudited Selected Financial and Store Data
(dollars in thousands)
13 Weeks
13 Weeks
52 Weeks
52 Weeks
Ended
Ended
Ended
Ended
January 31,
February 1,
January 31,
February 1,
2026
2025
2026
2025
78,136
79,437
272,727
253,125
56.0
%
56.9
%
56.1
%
55.0
%
12,674
9,746
25,545
19,317
3,885
3,790
14,952
14,772
333
328
42
40
375
368
109
83
178
138
743,733
733,972
58,166
56,542
801,899
790,514
(1)
Retail gross margin represents net retail sales less cost of merchandise sold - retail. Retail gross margin percentage represents retail gross margin divided by net retail sales. Store impairment is excluded from retail gross margin.
(2)
Capital expenditures represents cash paid for property, equipment, and other assets.
(3)
Excludes e-commerce. North American stores are located in the United States and Canada. In Europe, stores are located in the United Kingdom and Ireland. Seasonal locations not included in store count.
(4)
Square footage for stores located in North America is leased square footage. Square footage for stores located in Europe is estimated selling square footage. Seasonal locations not included in the store count.
Quarter
Quarter
Year
Year
Ended
Ended
Ended
Ended
January 31,
February 1,
January 31,
February 1,
2026
2025
2026
2025
$
21,549
$
27,486
$
67,227
$
67,141
(174
)
(138
)
(801
)
(861
)
3,885
3,790
14,952
14,772
$
25,260
$
31,138
$
81,378
$
81,052