Build-A-Bear reports record FY2022 pre-tax income of $61.9M; issues FY2023 guidance for 5-7% revenue growth

BUILD-A-BEAR WORKSHOP INC

2022-FY EPS reported $3.15 revenue$467,937,000

FY2022 total revenues $467.9M (+13.7% YoY); pre-tax income $61.9M (+22.1% YoY); net income $48.0M ($3.15 diluted EPS).
Q4 total revenues $145.1M (+11.6% YoY); pre-tax income $26.2M (+30.3% YoY); adjusted diluted EPS $1.30 vs $0.97.
Board declared special dividend of $1.50/share payable April 6, 2023 to holders of record March 23, 2023.
FY2023 guidance: total revenues growth 5-7%, pre-tax income growth 10-15%, capex $15-20M, 20-30 new experience locations.
E-commerce demand decreased 7.8% for FY2022 but up 137.1% vs pre-pandemic FY2019; store count 488 globally.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BUILD-A-BEAR WORKSHOP INC reported fiscal 2022 fourth quarter ended January 28, 2023 results: revenue $145.1 million, net income $20.5 million, EPS $1.39 per diluted share. Guidance initiated.

Period: fiscal 2022 fourth quarter ended January 28, 2023
Revenue: $145.1 million
Net income: $20.5 million
EPS: $1.39 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Total revenues were $145.1 million, an increase of 11.6% compared to $130.0 million in the fiscal 2021 fourth quarter; Net retail sales were $138.2 million, a 10.0% increase compared to $125.6 million in the fiscal 2021 fourth quarter; Consolidated e-commerce demand (orders generated online to be fulfilled from either the Company’s warehouse or its stores) increased 0.9% compared to the fiscal 2021 fourth quarter; and Commercial and international franchise revenues were $6.9 million, an increase of 60.5% compared to $4.3 million in the fiscal 2021 fourth quarter; Gross profit margin was 55.0%, an increase of 150 basis points from 53.5% in the fiscal 2021 fourth quarter. Gross profit margin expansion in the 2022 fourth quarter reflected increased merchandise margin primarily driven by lower freight costs versus the prior year and leverage on fixed occupancy expense; Selling, general and administrative (“SG&A”) expenses were $53.6 million, or 36.9% of total revenues, compared to $49.4 mi

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BUILD-A-BEAR WORKSHOP INC reported fiscal year 2022 ended January 28, 2023 results: revenue $467.9 million, net income $48.0 million, EPS $3.15 per diluted share. Guidance initiated.

Period: fiscal year 2022 ended January 28, 2023
Revenue: $467.9 million
Net income: $48.0 million
EPS: $3.15 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Total revenues were $467.9 million, an increase of 13.7% compared to $411.5 million in fiscal 2021; Consolidated net retail sales were $446.2 million, an increase of 12.2% compared to $397.7 million in fiscal 2021; Consolidated e-commerce demand (orders generated online to be fulfilled from either the Company’s warehouse or its stores) decreased 7.8% compared to fiscal 2021 and, for reference, fiscal 2022 e-commerce demand showed an increase of 137.1% compared to pre-pandemic fiscal 2019. The shift in e-commerce demand in fiscal 2022 compared to fiscal 2021 reflects the trend of consumers embracing a return to in-person shopping as well as disruption from a planned website upgrade during the year; Commercial and international franchise revenues were $21.8 million, an increase of 58.0% compared to $13.8 million in fiscal 2021; Pre-tax income increased 22.1% to $61.9 million compared to pre-tax income of $50.7 million in fiscal 2021; Income tax expense was $13.9 million, an effective tax

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Source: SEC EDGAR

accession 0001157523-23-000418

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