St. Louis -- Build-A-Bear Workshop Inc. reported a better-than-expected profit of $5.03 million for the first quarter, up from $13,000 a year before.
The company posted total revenue of $97.9 million, slightly below analysts expectations of $98.7 million, down from $ 104.3 million in first quarter 2013.
During the quarter, the company closed seven stores, ending the period with 316 company-owned stores.
"A combination of real estate optimization, retail gross margin expansion and SG&A (selling, general and administrative expenses) reduction drove the profitability increase," CEO Sharon John said. "With these results, we now have five consecutive quarters of operating improvement and we look forward to continuing our progress through the balance of the year.”