Build-A-Bear Workshop, Inc. (NYSE:BBW) Q1 2024 Earnings Conference Call May 30, 2024 9:00 AM ET

Company Participants

Gary Schnierow – Vice President-Investor Relations and Corporate Finance
Sharon Price John – Chief Executive Officer
Voin Todorovic – Chief Financial Officer

Conference Call Participants

Eric Beder – SCC Research
Greg Gibas – Northland Securities
Steve Silver – Argus Research
Keegan Cox – D.A. Davidson

Operator

Greetings and welcome to the Build-A-Bear Workshop’s First Quarter 2024 Earnings Call. At this time all participants are in a listen-only mode. A question and answer session will follow the formal presentation. [Operator Instructions] As a reminder this conference is being recorded.

I would now like to turn the conference over to your host Mr. Gary Schnierow, Build-A-Bear Investor Relations. Thank you. You may begin.

Gary Schnierow

Thank you. Good morning, everyone, and welcome to Build-A-Bear’s first quarter 2024 earnings conference call. With us today are Build-A-Bear’s CEO Sharon Price John; and CFO, Voin Todorovic. During this call we will refer to forward-looking statements that are subject to risks and uncertainties. Actual results could differ materially. Please refer to our Forms 10-K and 10-Q including the Risk Factors section. We undertake no obligation to update any forward-looking statement.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today’s earnings press release, which is distributed and available to the public through our Investor Relations website.

And now, I'll turn the call over to Sharon.

Sharon Price John

Thank you, Gary. Good morning and thanks for joining us for Build-A-Bear's first quarter fiscal 2024 earnings call.

For the past few years, you've heard us reaffirm our strategy, which is focused on the evolution of our business model to profitably leverage the power of the Build-A-Bear brand. Although first quarter results were slightly more challenging than anticipated, we are reiterating guidance given our expectation of the successful execution of our strategic plans for the balance of the year.

We believe that the diversified business model we have created and the systematic digital integration we've been working towards over the past few years has shown numerous proof points of our growth strategy. We have broadened Build-A-Bear’s brand reach through consumer, geographic, and category expansion with a mantra we like to refer to as more people more places and more products.

As an example of product expansion, we leverage the brand’s popularity and diverse consumer appeal with continuous launches of new make your own ‘furry friends’, including key licenses such as Pokemon or TikTok trend animals such as our Coffee Bar and new plush form factors like the recent successful introduction of our Mini Beans collectible.