Build-A-Bear Workshop (NYSE: BBW) reported Q1 EPS of $0.22, $0.15 worse than the analyst estimate of $0.37. Revenue for the quarter came in at $95 million versus the consensus estimate of $96.7 million.

Comps rose 2.2 percent.

Review of Strategic Alternatives

The Company’s Board of Directors authorized an exploration of a full range of strategic alternatives. The Company retained Guggenheim Securities, LLC as its financial advisor and Bryan Cave LLP as its legal counsel to assist with the strategic review.

Commenting on the strategic review, CEO Sharon Price John stated, “The disciplined execution of our strategy has led to three consecutive years of positive consolidated comparable sales and profit growth fueled by margin expansion and improved operational metrics, such as the highest average transaction value in our history while consistently generating strong cash flow. The authorization to explore strategic alternatives by our Board will enable us to evaluate the various opportunities to potentially accelerate our key growth initiatives while enhancing total shareholder value.”

No timetable has been set for the Company’s review process. The Company does not expect to comment further or update the market with any additional information on the process unless and until its Board of Directors deems disclosure appropriate or necessary. There is no assurance that this exploration will result in any strategic alternatives being announced or executed.

For earnings history and earnings-related data on Build-A-Bear Workshop (BBW) click here.