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Monday, January 25, 2021

Build-A-Bear needs a hug

Build-A-Bear Workshop saw its shares drop to a new low for the year after it said the spreading COVID-19 disease meant it could not provide financial guidance for the current fiscal year. The St. Louis-based company operates over 500 stores across the U.S. and internationally where children can customize stuffed animals. The company said Wednesday that sales were nearly flat at $338.5 million last year, and it had planned to give investors a forecast for the current fiscal year. But in a statement it said “given the rapidly changing environment with COVID-19, the company is refraining from providing specific guidance.” It also said it would “(evaluate) a variety of scenario plans for the business.” Build-A-Bear shares closed at $2.73, down about 16% from the start of the year.

AP

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