Needham & Company Maintains a 'Strong Buy' on Build-A-Bear Workshop (BBW); 2Q Solid Sales, GM Expansion, Good Product Line Up for 2H

Needham & Company maintains a 'Strong Buy' on Build-A-Bear Workshop (NYSE: BBW) price target of $11.00.

Needham analyst says, "BBW’s 2Q total revenue rose 10.4% YoY to $81.8 million vs. our $81.5 million estimate. Net retail sales increased 10.9%, beating our estimate and consensus. SSS were solid at +7.1% although much of the gains reflected benefit from the Easter calendar shift. Gross margin rose 450 bps YoY to 36.6% based on higher merchandising margins and occupancy leverage but was below our 42.3% estimate. SG&A was higher than we expected at 49.5% of total net revenue. EPS were ($0.37) vs. ($0.45) in the year-ago period."

For more ratings news on Build-A-Bear Workshop click here and for the rating history of Build-A-Bear Workshop click here.

Shares of Build-A-Bear Workshop closed at $6.12 yesterday.

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