Shares of the teddy bear retailer, Build-A-Bear Workshop, rose 26.96% on Wall Street this Wednesday to $ 21.66 each, after releasing in its report to the third quarter of 2021 that it generated income and raised its guidance for the whole year.
It also authorized up to $ 25 million in share buybacks.
Analysts at The Motley Fool wrote that Build-A-Bear Workshop has a unique model, in which it turns the purchase of a teddy bear into an interactive experience.
Essentially, consumers (both children and adults) make their own bears in stores.
However, that wasn’t such a good business approach last year, when the coronavirus pandemic sparked shutdowns and social distancing.
However, with the stores reopening, Build-A-Bear’s business has recovered in 2021.
The company’s sales amounted to 95.1 million dollars, 27.4% more compared to the same period last year. Sales were 35.2% better than those obtained during the third quarter of 2019.
In fact, Build-A-Bear noted that the third quarter of 2021 set a revenue record.
The company increased its guidance regarding total revenue and EBITDA for fiscal 2021.
Reference-www.eleconomista.com.mx