RTTNews | Jan 11, 2021 07:09AM EST

07:09 Monday, January 11, 2021 (RTTNews.com) - Build-A-Bear Workshop, Inc. (BBW), a specialty retailer of plush animals and related products, on Monday provided its financial outlook for the fourth quarter and fiscal year 2020, ahead of its planned presentation at the 23rd Annual ICR Conference.

For the fourth quarter, Build-A-Bear Workshop forecast total revenues in the range of $88.0 million to $92.0 million, down from $104.6 million in the year-ago quarter.

The company noted it had a significant reduction in store traffic during the nine-week holiday period ending January 2, 2021 driven by local COVID-19 restrictions which led to an 18 percent reduction in store operating days. This includes a decline of 10 percent in North America and 66 percent in the United Kingdom.

The company projects earnings before interest and taxes or EBIT for the fourth quarter in a range of $4.0 million to $6.0 million, compared to $7.6 million in the prior-year quarter.

However, Build-A-Bear Workshop forecast cash and cash equivalents at quarter end to be between $32 and $37 million, an increase of approximately $5 to $10 million from the prior year's quarter end, and it expects to have no borrowings under its revolving credit facility at the end of the period.

The company expects to report full results for the fourth quarter and fiscal 2020 year in March, 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3159294/build-a-bear-workshop-sees-lower-revenue-ebit-in-q4-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved