On Thursday, Build-A-Bear Workshop, Inc. announced its financial results for the last quarter. The physical retail company also provided its revenue growth forecast for the entire year of 2024.
For the 2024 fiscal year, Build-A-Bear predicts a low-to-mid-single-digit percentage increase in revenue. It also anticipates an adjusted total revenue growth in the mid-single-digit percentage range.
According to a poll by Thomson Reuters, three analysts on average, anticipate the company to report a 3.2 percent growth in revenue, amounting to roughly $502.97 million for the year.
Additionally, the company expects a low-single-digit percentage increase in pre-tax income, and an adjusted pre-tax income growth in the mid-single-digit percentage range.
The CEO and President, Sharon Price John, pledged the company's commitment to its strategic objectives. This includes utilizing the Build-A-Bear brand more effectively, an extensive digital and marketing reorganization, and an expected net new unit growth of at least 50 locations worldwide.
An initial quarterly cash dividend of $0.20 per share was declared by the company's Board of Directors on Wednesday. This will be paid by April 11, 2024, to all stockholders recorded as of March 28, 2024.
