Needham & Company Cuts Estimates on Build-A-Bear (BBW), Citing Gross Margin Pressures; N. American Same-Store Sales Up Nicely
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Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
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Needham & Company maintains a 'Strong Buy' on Build-A-Bear Workshop (NYSE: BBW) price target of $11.00.
Analyst, Sean McGowan, said, "BBW reported sales that were better than we expected, but missed on the bottom line. 1Q revenues were up 0.4% YoY to $96.4 mm versus our estimate of $95.1 mm; EPS were a loss of $0.06 (up from a loss of $0.12 in 1Q ’11), while we expected a profit of $0.06. Excluding one time charges associated with Ridemakers, which amounted to $0.03 per share, adjusted EPS was ($0.03). SSS were up 1.2% overall, and were particularly strong in North America (+3.6%) despite weakness in Europe (down -10.1%)."
"As a result of lower than expected store count and GM pressure we have reduced our ’12 and ’13 estimates. We now expect 2012 EPS of $0.15 (from $0.25) and SSS of +1.5% and 2013 EPS of $0.30 (from $0.35)and a SSS increase of +2.7%."
For an analyst ratings summary and ratings history on Build-A-Bear Workshop click here. For more ratings news on Build-A-Bear Workshop click here.
Shares of Build-A-Bear Workshop closed at $4.36 yesterday, with a 52 week range of $4.26-$8.80.
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Analyst, Sean McGowan, said, "BBW reported sales that were better than we expected, but missed on the bottom line. 1Q revenues were up 0.4% YoY to $96.4 mm versus our estimate of $95.1 mm; EPS were a loss of $0.06 (up from a loss of $0.12 in 1Q ’11), while we expected a profit of $0.06. Excluding one time charges associated with Ridemakers, which amounted to $0.03 per share, adjusted EPS was ($0.03). SSS were up 1.2% overall, and were particularly strong in North America (+3.6%) despite weakness in Europe (down -10.1%)."
"As a result of lower than expected store count and GM pressure we have reduced our ’12 and ’13 estimates. We now expect 2012 EPS of $0.15 (from $0.25) and SSS of +1.5% and 2013 EPS of $0.30 (from $0.35)and a SSS increase of +2.7%."
For an analyst ratings summary and ratings history on Build-A-Bear Workshop click here. For more ratings news on Build-A-Bear Workshop click here.
Shares of Build-A-Bear Workshop closed at $4.36 yesterday, with a 52 week range of $4.26-$8.80.
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