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Build-A-Bear Workshop Inc (NYSE:BBW) surged 26% after the company topped fourth-quarter earnings and revenue expectations.
The toy retailer reported profits of $1.30 per share, $0.18 above the analyst estimate of $1.12, while revenue for the quarter came in at $145.1 million versus the consensus estimate of $137.54M.
Revenue rose over 11% compared to the same period last year, with the company stating its performance in the quarter was boosted by the ongoing execution of its multi-year strategic plan.
The company also declared a special cash dividend of $1.50 per share that will be paid on April 6.
BBW President and CEO Sharon Price John said the plan positions the company to scale its business further and “generate profitable growth in 2023 and beyond.”
“We have built a cross-functional foundation designed to drive and monetize the value of our strong brand equity,” she added.
Looking ahead, the company sees 2023 revenues increasing in the range of 5% to 7%, with pre-tax income growth of 10% to 15% expected.
