Build-A-Bear Workshop widens Q4 loss; reports annual loss of $49 million
St. Louis — Build-A-Bear Workshop, which is in the midst of a major turnaround initiative, reported a net loss of $36.5 million for its fourth quarter ended Dec. 29, compared with a net loss of $9 million during the prior-year quarter.
Total revenue for the quarter was $118.2 million, down 1% from the prior-year quarter.
For the full year, Build-A-Bear Workshop reported a net loss of $49.3 million in fiscal 2012, compared with a net loss of $17.1 million in fiscal 2011. The 2012 loss included a $33.7 million goodwill impairment in the fourth quarter.
The company reported total revenue of $380.9 million in 2012, down 3% from the previous year.
Founder and CEO Maxine Clark, who announced her retirement Jan. 31, said that the company was “disappointed” with its overall results. But she noted that in the fourth quarter the company increased same-store store sales in North America to show a marked improvement from the third quarter.”
“This increase was driven by the initial benefit of our brand building marketing campaigns, particularly in the U.S., and a return to traditional holiday product offerings,” Clark stated. “The U.K. remained challenging, which drove down our consolidated comparable store sales.
Clark also said: “We are in the midst of a multi-year turnaround initiative that includes closing an additional 50 to 60 stores by the end of 2014, updating our experience with a new design that builds our destination appeal and refocusing on brand messaging in our marketing programs.”
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PGA Tour Superstore to open in Irvine, Calif.
Roswell, Ga. — PGA Tour Superstore will open its second store on the West Coast, a 50,000-sq.ft, location in Irvine, Calif., later this year.
"We are excited to be expanding into Southern California, which encompasses one of the nation’s most renowned golf areas in the country," said PGA Tour Superstore president and CEO Dick Sullivan.
With the addition of this store, the number of PGA Tour Superstores will increase nationwide to 17.
As the PGA Tour’s exclusive off-course/off-airport retail partner, PGA Tour Superstores are staffed with teaching professionals and have multiple state-of-the-art swing simulators, practice hitting bays and a putting green. There is also an in-house club making and repair facility. Many stores are equipped with a full-size tennis court and a tennis professional on staff for lessons and clinics. Along with equipment and accessories, PGA Tour features men’s, women’s and juniors’ apparel and footwear for golf and tennis.
PGA Tour Superstore is operated by Golf & Tennis Pro Shop, Inc., headquartered in Roswell, GA, and is a majority-controlled subsidiary of AMB Group, LLC.
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Retail Store of the Year: And the winners are…
New York — Simons, Canada’s eclectic and fashion-forward department store retailer, received top honors in Chain Store Age’s 31st annual Retail Store of the Year design competition. The company’s 118,000-sq.-ft. store in West Edmonton Mall, Edmonton, Canada, was named Store of the Year. Designed by figure3, Toronto, Simons also was the winning entry in the department store category.
Here is a complete list of the winning projects (all first place except where noted), which will be featured in a special section in the March issue of Chain Store Age and reviewed at CSA’s annual SPECS Conference (March 17 -20) in Dallas:
- Retail Store of the Year: Simons, Edmonton, Canada (Design: figure3, Toronto)
- Soft Lines (up to 5,000 sq. ft.): Ann Summers, London (Fitch, London)
- Soft Lines (Honorable Mention, up to 5,000 sq. ft): Puma, New York City (Plajer & Franz, Berlin; Nathan Lee Colkitt Architects, San Diego); and The Locker Room, London (Dalziel and Pow, London)
- Soft Lines (5,000 sq. ft. to 15,000 sq. ft.): Aeropostle, Garden City, N.Y. (GH+A, Montreal)
- Soft Lines (over 15,000 sq. ft.): Joe Fresh, New York (Burdifilek, Toronto)
- Soft Lines (Honorable Mention, over 15,000 sq. ft.): Primark, London (Dalziel and Pow, London)
- Hard Lines (up to 5,000 sq. ft.): Telus, Laval, Quebec (figure3, Toronto)
- Hard Lines (over 5,000 sq. ft.): Aaron Brothers, West Hollywood, Calif. (Chute Gerdeman, Columbus, Ohio)
- Department Store: Simons, Edmonton, Canada (figure3, Toronto)
- Department Store (Honorable Mention): John Lewis, Exeter, U.K. (Dalziel and Pow, London)
- Discount/Mass Merchant: City Target, Seattle (Target Store Design, Minneapolis; with outside design consultants Fitch, Columbus, Ohio)
- Drug Store/Convenience Store: Walgreens, Chicago (Walgreens, Deerfield, Ill.)
- Supermarket: Longo’s, Toronto (Watt International, Toronto)
- Supermarket (Honorable Mention): Ole’, Chengdu, China (rkd retail/iQ, Bangkok, Thailand)
- Fast Food/Casual Dining: Buffalo Wild Wings, Cincinnati (Fitch, Columbus, Ohio)
- Fast Food (Honorable Mention): Double Wide Grill (Gruskin Architecture + Design, Springfield, N.J.)
- Restaurant: Hakkasan, New York City, (Gilles Et Boissier, Paris)
- Restaurant (Honorable Mention): Hyatt Regency Sway, Louisville, Ky. (FRCH Design Worldwide, Cincinnati)
- Specialty Food: Tazo Tea, Seattle (Cubic, Burnsville, Minn.)
- Specialty Food (Honorable Mention): DFS Wine & Cigars, Singapore (rkd retail/iQ, Bangkok, Thailand)
- Showroom: Stuart Weitzman, New York City (TPG Architecture, New York City)
- Single Unit: AT&T Flagship, Chicago (Callison, Seattle)
- In-Store Shop: Beauty boutique in Shoppers Drug Mart, (Agence Tuxedo, Montreal);
- In-Store Shop (Honorable Mention): Paris womenswear in Costasnera, Santiago, Chile (Dalzier and Pow, London)
- Service (under 15,000 sq. ft.): National Bank of Canada, Toronto (Ruscio Studio, Montreal)
- Service (Honorable Mention, under 15,000 sq. ft. ): Laurentian Bank, Repentigny, Quebec City (Aedifica, Montreal)
- Service (greater than 15,000 sq. ft.): Cineplex Cinemas and VIP Cinemas, Windermere, (Shikatani Lacroix Design, Toronto)
- Warehouse Club: Makro Food Service, Hauhin, Thailand (rkd retail/iQ, Bangkok, Thailand)
- Cashwrap: Carlos Pazolini, New York City (Giorgio Boruso Design, Marina Del Ray, Calif.)
- Fitting Rooms (all first place): Aeropostale, Garden City, N.Y. (GH+A, Montreal); H&M, Miami Beach, Fla. (H&M, New York City); Simons, Edmonton, (figure 3, Toronto)
- Exterior (up to 5,000 sq. ft.): Papyrus, Toronto (Architect: Jencen Architecture, Cleveland, Ohio)
- Exterior (over 5,000 sq. ft.): El Palacio De Hierro, Villahermosa, Mexico (Architect: TPG Architecture, New York City); andLord & Taylor, Yonkers, N.Y. (Architect: Giorgio Borruso Design, Marina Del Rey, Calif.)
- Creative Use of Technology: McCormick World of Flavors, Baltimore (JGA, Southfield, Mich.)
Wow congratualations for all
Wow congratualations for all the winners. The difference between the winners and losers in retail increasingly comes down to one factor: easily access even in a world wide web. www.college-paper.org
118,000-sq.-ft. store in West
118,000-sq.-ft. store in West Edmonton Mall, Edmonton, Canada, was named Store of the Year. Designed http://babul-ilm.com by figure3, Toronto, Simons also was the winning entry in the department store category.