"Despite the fact that our comp store sales in the second quarter are coming in below plan in the negative 4% range, we still expect--because of our highly profitable store operations and expense control--to report earnings for the second quarter close to our plan of approximately 22 cents per diluted share," said chairman and CEO Maxine Clark in a released statement.
Company execs now believe fiscal 2006 North American comparable store sales will be in the flat-to-negative low single-digit range. The guidance continues to include UK acquisition dilution of approximately 13 cents per diluted share and distribution center transition costs of approximately four cents per diluted share.
The company's UK acquisition and integration continues to progress on schedule, according to the company statement. In May, Build-A-Bear began the process of converting and re-branding approximately 25 Bear Factory stores, which closed for approximately 22 days.
Founded in St. Louis in 1997, the company currently operates more than 240 stores in the US, Canada and the UK. In April 2006, Build-A-Bear Workshop acquired the Bear Factory Limited and Amsbra, Ltd., adding company-owned stores in the UK and Ireland.
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