Build-A-Bear Workshop issued preliminary sales and guidance for pre-tax income for the fourth quarter and fiscal year 2015 ended January 2, 2016 as well as initial expectations for fiscal year 2016.
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On a preliminary basis, for the fourth quarter the company expects:
Total revenues of approximately $117.7 million compared to $131.5 million in the fiscal 2014 fourth quarter;
Consolidated net retail sales of approximately $116.5 million compared to $130.0 million in the fiscal 2014 fourth quarter;
Consolidated comparable sales (Stores and E-commerce) to decrease 5.5% including a 4.1% decrease in North America and an 9.9% decrease in Europe (fourth quarter comparable sales are compared to the thirteen-week period ended January 3, 2015);
E-commerce sales to increase 16.5% compared to fiscal 2014 fourth quarter; and pre-tax income in the range of $8.5 million to $10.0 million compared to pre-tax income of $12.6 million in the 2014 fourth quarter.
On a preliminary basis, for the 2015 fiscal year the company expects:
Total revenues of approximately $377.7 million compared to $392.4 million in fiscal 2014;
Consolidated net retail sales of approximately $372.8 million compared to $387.7 million in fiscal 2014;
Consolidated comparable sales (Stores and E-commerce) to increase 1.0%, including flat performance in North America and a 4.8% increase in Europe (full year comparable sales are compared to the fifty-two week period ended January 3, 2015);
E-commerce sales to increase 11.9% compared to fiscal 2014;
Pre-tax income in the range of $16.5 million to $18.0 million compared to pre-tax income of $16.0 million in fiscal 2014 and capital expenditures are expected to be approximately $24.2 million; depreciation and amortization is expected to be approximately $16.4 million.
During the year, the company opened 26 stores, including 11 in its new Discovery format to end the year with 330 locations including 269 in North America and 61 outside of North America. In addition, the company repurchased approximately 1.7 million shares of its common stock for $25.9 million in fiscal 2015. ■