Build-A-Bear Workshop's stock is experiencing an uptick following the release of its strong third-quarter fiscal 2024 results. The company reported revenues of $119.4 million, marking an 11.0% increase year-over-year, and a pre-tax income of $13.1 million, up 26.4%. Notably, the diluted earnings per share reached $0.73, surpassing the consensus estimate of $0.65 and reflecting a 37.7% increase from the previous year. The company also updated its fiscal 2024 guidance, projecting total revenue between $489 million and $495 million, aligning closely with the consensus of $493.64 million.
The positive financial performance was driven by a 9.1% growth in net retail sales to $109.5 million and a significant 38.8% increase in commercial and international franchise revenue to $9.9 million. Additionally, Build-A-Bear expanded its global footprint by opening 17 new locations in the third quarter, bringing the total to 565 locations worldwide. These developments underscore the company's ongoing growth and expansion strategy.
Build-A-Bear Workshop's stock is currently priced at $39.49, reflecting a 4.14% increase from the previous close of $37.92.