Build-A-Bear Workshop Reports Annual Loss of $49 Million

Build-A-Bear Workshop reported a net loss of $36.5 million for its fourth quarter ended Dec. 29, compared with a net loss of $9 million in the year-ago period. Total revenue for the quarter was down 1 percent from the prior-year quarter to $118.2 million. For the full-year, Build-A-Bear Workshop reported a net loss of $49.3 million in fiscal 2012, compared with a net loss of $17.1 million in fiscal 2011. The 2012 loss included a goodwill impairment of $33.7 million in the fourth quarter. The company reported total revenue of $380.9 million in 2012, down 3 percent from the previous year. Founder and CEO Maxine Clark, who announced her retirement Jan. 31, said the company was disappointed with the overall results.