Stockholders invited to experience buildabearville.com(TM), the company's new online entertainment site.
ST. LOUIS, May 08, 2008 (BUSINESS WIRE) -- The Build-A-Bear Workshop, Inc. (NYSE: BBW) fourth annual meeting
of stockholders as a public company was held today at the Saint Louis
Science Center in St. Louis. Founder, Chairman and Chief Executive
Bear Maxine Clark, reviewed the company's fiscal 2007 accomplishments
and outlined plans for 2008.
In her remarks to stockholders, Clark said, "Our Guests are
engaging in our new online world, buildabearville.com, at a fast pace.
Our investment in this online world reflects our commitment to
building the entertainment value of our brand. The trend in online
play for children is an emerging change and our virtual world website
is an important platform for our future growth as a
retail-entertainment brand."
During the meeting, company stockholders elected three Class I
directors to serve until the 2011 annual meeting. The elected
directors were Maxine Clark, Mary Lou Fiala, president and chief
operating officer Regency Centers Corporation, and Louis Mucci,
retired partner PricewaterhouseCoopers LLP.
In addition, company stockholders approved the appointment of KPMG
LLP to serve as independent accountants for fiscal 2008.
The company also outlined its plan to moderate new store growth in
2008; in North America, Build-A-Bear Workshop expects to open 20
stores - compared to opening 39 new stores in 2007. In the United
Kingdom, Ireland and France (company-owned European operations) the
company plans to open five new stores - compared to opening 11 new
stores in 2007. International franchisees expect to open 15 to 20 new
stores in 2008.
Clark added, "In 2008, we are balancing our efforts to invest in
building our long-term brand value while managing through the
near-term challenges in the retail environment. In addition to slowing
down our store growth, this year we are focusing on expense savings,
on driving product newness and collectability, and on raising
awareness of buildabearville.com and integrating this new component of
our brand experience into everything we do."
The annual meeting was broadcast over the Internet via webcast.
The webcast is accessible through the Investor Relations page of the
Build-A-Bear Workshop corporate web site, http://ir.buildabear.com.
Following the live meeting, a replay of the webcast is available until
the next annual meeting.
About Build-A-Bear Workshop, Inc.
Build-A-Bear Workshop, Inc. is the only global company that offers
an interactive make-your-own stuffed animal retail-entertainment
experience. The Company currently operates more than 375 Build-A-Bear
Workshop stores worldwide, including company-owned stores in the U.S.,
Puerto Rico, Canada, the United Kingdom, Ireland and France, and
franchise stores in Europe, Asia, Australia and Africa. Founded in St.
Louis in 1997, Build-A-Bear Workshop is the leader in interactive
retail. Brands include make-your-own Major League Baseball(R) mascot
in-stadium locations, Build-A-Dino(R) stores and friends 2B made(R)
doll locations. In December 2007, Build-A-Bear Workshop extended its
in-store interactive experience online with the launch of its virtual
world at www.buildabearville.com. Build-A-Bear Workshop (NYSE: BBW)
posted total revenue of $474 million in fiscal 2007. For more
information, call 888.560.BEAR (2327) or visit the Company's
award-winning Web sites at www.buildabear.com and
www.friends2bmade.com.
Forward-Looking Statements
This press release contains "forward-looking statements" (within
the meaning of the federal securities laws) which represent
Build-A-Bear Workshop expectations or beliefs with respect to future
events. These forward-looking statements are subject to certain risks
and uncertainties that could cause actual results to differ materially
from those anticipated. Those factors include, without limitation: we
may be unable to generate interest in and demand for our interactive
retail experience, or to identify and respond to consumer preferences
in a timely fashion; our marketing and on-line initiatives may not be
effective in generating sufficient levels of brand awareness and guest
traffic; we may be unable to generate comparable store sales growth;
we may be unable to open new stores or may be unable to effectively
manage our growth; we may be unable to effectively manage our
international franchises or laws relating to those franchises may
change; customer traffic may decrease in the shopping malls where we
are located, on which we depend to attract guests to our stores;
general economic conditions may deteriorate, which could lead to
disproportionately reduced consumer demand for our products, which
represent relatively discretionary spending; high petroleum products
prices could increase our inventory transportation costs and adversely
affect our profitability; we may be unable to repurchase shares at all
or at the times or in the amounts we currently anticipate or the
results of the share repurchase program may not be as beneficial as we
currently anticipate; we may be unable to realize some of the expected
benefits of the acquisition of Amsbra and Bear Factory, and the
inclusion of France as a Company-owned country; we may lose key
personnel, be unable to hire qualified additional personnel, or
experience turnover of our management team; the ability of our
principal vendors to deliver merchandise may be disrupted; the
availability and costs of our products could be adversely affected by
risks associated with international manufacturing and trade; we may be
unable to realize the anticipated benefits from our company-owned
distribution center or our third-party distribution center providers
may perform poorly; fluctuations in our quarterly results of
operations could cause the price of our common stock to substantially
decline; we may be unable to renew or replace our store leases, or
enter into leases for new stores on favorable terms or in favorable
locations, or may violate the terms of our current leases; our market
share could be adversely affected by a significant, or increased,
number of competitors; we may suffer negative publicity or be sued due
to violations of labor laws or unethical practices by manufacturers of
our merchandise; our products could become subject to recalls or
product liability claims that could adversely impact our financial
performance and harm our reputation among consumers; we may improperly
obtain or be unable to protect information from our guests in
violation of privacy or security laws or expectations; we may fail to
renew, register or otherwise protect our trademarks or other
intellectual property; and we may have disputes with, or be sued by,
third parties for infringement or misappropriation of their
proprietary rights. These and other applicable risks, cautionary
statements and factors that could cause actual results to differ from
the Company's forward-looking statements are included in the Company's
filings with the SEC, including as described in the Company's annual
report on Form 10-K for the fiscal year ended December 29, 2007. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
TRADEMARKS
We would like to thank you for your interest in covering our
business. As you write your story, we would ask that you use our full
name: Build-A-Bear Workshop(R) and that when referencing the process
of making stuffed animals you use the word "make" not "build."
Build-A-Bear Workshop(R) is our well-known trade name and our
registered trademark of Build-A-Bear Workshop, Inc. Build-A-Bear
Workshop(R) should only be used in capital letters to refer to our
products and services and should not be used as a verb.
SOURCE: Build-A-Bear Workshop, Inc.
Build-A-Bear Workshop, Inc.
Investors:
Molly Salky, 314-423-8000, ext. 5353
or
Media:
Jill Saunders, 314-423-8000, ext. 5293
