St. Louis Build-A-Bear Workshop posted a loss in the fourth quarter, prompting the company to make additional cost cuts and expand its offerings.
Build-A-Bear lost $916 ,000 in the quarter ended Jan. 2, compared with a profit of $5 million a year earlier. It recorded revenue of $122.9 million for the fourth quarter, down 14% from $142.1 million in the prior-year quarter.
For the full fiscal 2009, the company lost $12.5 million on revenue of $394.4 million, compared with a profit of $4.6 million on revenue of $467.9 million in 2008.
Chairman and CEO Maxine Clark said the company would introduce new toy products this year, including the popular Zhu Zhu Pets, robotic toy hamsters made by Cepia LLC. Zhu Zhu Pets are in 50 Build-A-Bear stores so far and will roll out to all the North American locations by March.
Clark said the company continues to "aggressively focus on cost reduction programs over and above the $25 million achieved in fiscal 2009."
“We believe our strategies will lead to increased sales productivity and profitability with our actions already showing progress,” Clark said.