Why Build-A-Bear Workshop Shot Up Close to 35% This Week
Shares of Build-A-Bear Workshop (NYSE: BBW) shot up as much as 34.6% this week, according to data from S&P Global Market Intelligence. The stuffed animal retail concept posted strong third-quarter results and raised its full-year guidance, sending shares higher. As of 1:13 p.m. ET on Friday, Dec. 2, the stock is up 34.2% this week.
On Nov. 30, Build-A-Bear released its quarterly results for the three months ending in October. Revenue grew 9.9% year over year to $104.5 million, pre-tax income increased 25.3% to $9.9 million, and diluted earnings per share (EPS) increased 41% to $0.51. These fantastic results were well above investor expectations heading into the period, which is why shares soared in the days following the report.
On top of these current results, management raised Build-A-Bear's full-year 2022 guidance. They now expect a range of $455 million to $465 million in revenue and $56 million to $63 million in pre-tax income in 2022. This compares to previous guidance ranges of $440 million to $460 million in revenue and $52 million to $63 million in pre-tax income at the end of the second quarter.
Source Fool.com
