Build-A-Bear grows online sales by 11.8% in 2015
February 17, 2016 10:54 AM
Improving its e-commerce operations helped Build-A-Bear Workshop Inc. stuff double digit sales growth into fiscal 2015.
Build-A-Bear, No. 658 in the Internet Retailer 2015 Second 500 Guide, does not break out e-commerce sales figures but says in its Q4 2015 earnings filing with the U.S. Securities and Exchange Commission that e-commerce sales grew 16.4% year over year in Q4 and 11.8% in fiscal 2015. Those increases represent improvements from the same time last year, when e-commerce grew 9.0% and 3.5% respectively year over year.
“E-commerce revenue including mobile grew double digits in the quarter, driven by an upgraded platform, improvement in our online marketing precision and exclusive product offerings,” CEO Sharon Price John told analysts on Build-A-Bear’s earnings call, according to a transcript from Seeking Alpha.
The teddy bear retailer’s e-commerce growth comes as sales elsewhere fell. But the sales decline resulted in a significant increase in profits.
For the fourth quarter ended Jan. 2, Build-A-Bear reported:
- Net retail sales of $116.5 million, down 10.4% from $130.0 million during the same time last year.
- Total revenue of $117.7 million, down 10.5% from $131.5 million.
- Net income of $20.1 million, up 70.3% from $11.8 million last year.
For fiscal 2015, Build-A-Bear reported:
- Net retail sales of $372.7 million, down 3.9% from $387.7 million last year.
- Total revenues of $377.7 million, down 3.7% from $392.4 million.
- Net income of $27.4 million, up from 90.3% from $14.4 million.