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Build-A-Bear Cuts Store Openings

ST. LOUIS-The retailer is opening four North American stores in 2009, down from 20 new ones this year.

By Debra Hazel | Updated on July 25, 2008

ST. LOUIS-After seeing sales decline and posting a loss, Build-A-Bear Workshop will dramatically cut back on store openings next year, executives said at its second-quarter conference call.

Four units will open in North America, and two in Europe in 2009, as compared to 20 new North American units and five European stores this year. In addition, the company is reassessing its oldest stores.

“Store-lease renewals begin ramping up in 2009 and 2010,” said Maxine Clark, Build-A-Bear Workshop chairman and chief executive bear. “This allows us to take a fresh look and our markets and how the market should be restructured. We are deep into this planning with our teams and landlords.”

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