Build A Bear Workshop (BBW) has reported a 21.40 percent fall in profit for the quarter ended Apr. 01, 2017. The company has earned $2.76 million, or $0.17 a share in the quarter, compared with $3.52 million, or $0.22 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $2.73 million, or $0.17 a share compared with $3.03 million or $0.19 a share, a year ago. Revenue during the quarter dropped 4.57 percent to $90.63 million from $94.98 million in the previous year period. Gross margin for the quarter contracted 131 basis points over the previous year period to 47.30 percent. Total expenses were 94.94 percent of quarterly revenues, up from 94.48 percent for the same period last year. That has resulted in a contraction of 46 basis points in operating margin to 5.06 percent.
Operating income for the quarter was $4.58 million, compared with $5.24 million in the previous year period.
Sharon Price John, Build-A-Bear Workshop President and Chief Executive Officer, commented, "In the first quarter, sales and profit levels were in line with previously stated expectations and we made progress in evolving our strategies and building on the foundation that has been laid over the past few years to fuel future growth. As expected, sales were negatively impacted by shifts in both Valentine’s Day and Easter as well as the associated school break periods."
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