YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
St. Louis-based Build-A-Bear Workshop Inc. posted a third-quarter loss of $1.4 million, up from a third-quarter 2012 loss reported at $4.3 million, according to the St. Louis Business Journal.
Third-quarter revenue was recorded at $84.8 million, down 1.3 percent from $86 million at the same time last year.
The company is operating 31 fewer stores in 2013, but consolidated store sales have gone up 6.4 percent. Sharon Price John, CEO and president of Build-A-Bear, said reduced promotions and disciplined expense management have also led to reduced losses.
There are currently 320 Build-A-Bear locations in operation in North America and Europe. The company opened three new stores and closed six stores during the third quarter of 2013, and has plans to close 10 to 25 more in 2013 and 2014.
Read more from the St. Louis Business Journal.
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