Build-A-Bear Workshop 2009 Annual Report Download - page 3

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BUILD-A-BEAR WORKSHOP, INC. LETTER TO SHAREHOLDERS
1
TOTAL REVENUE
(dollars in millions)
NUMBER OF COMPANY-OWNED STORES
(at end of period)
Fiscal year (1) 2009 2008 2007
Revenues:
Net retail sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 388,552 $ 460,963 $ 468,168
Franchise fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,353 $ 4,157 $ 3,577
Licensing revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,470 $ 2,741 $ 2,616
Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 394,375 $ 467,861 $ 474,361
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (12,473) $ 4,564 $ 22,509
Earnings (loss) per common share:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.66) $ 0.24 $ 1.11
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.66) $ 0.24 $ 1.10
Other fi nancial and store data:(2)
Gross margin (dollars)(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 142,572 $ 190,500 $ 209,090
Gross margin (percent)(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.7% 41.3% 44.7%
Number of company-owned stores
at end of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 345 346 321
Average net retail sales per store . . . . . . . . . . . . . . . . . . . . . $ 1,044 $ 1,329 $ 1,576
Net retail sales per gross square foot . . . . . . . . . . . . . . . . . . . $ 358 $ 445 $ 516
(1) Our fi scal year consists of 52 or 53 weeks; it ends on the Saturday nearest Dec. 31 in each year. Fiscal years 2009 and 2007 were 52 weeks each;
fi scal year 2008 consisted of 53 weeks.
(2) For descriptions of this fi nancial and store data, please see the fi scal 2009 annual report on Form 10-K.
(3) Gross margin represents net retail sales less cost of merchandise sold, which includes store asset impairment charges in 2009 and 2008. Gross margin
percentage represents gross margin divided by net retail sales.
175
350 345
346
321
271
200
0908070605
2
50
5
00
394.4
467.9
474.4
437.1
361.8
0908070605
financial highlights
(dollars in thousands, except per share, per store, and per gross square foot data)