Build-A-Bear Workshop 2014 Annual Report Download - page 9

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More Places
CONTINUOUS IMPROVEMENT:
We plan to continuously improve our real estate model by
strategically evolving our store portfolio to align with market
trends while selectively opening new locations and
systematically refreshing our store base. We plan to continue
opening stores in high potential destinations such as tourist
locations, outlet malls and shop-in-shops, which tend to over-
index on key metrics compared to traditional mall stores.
STRATEGIC EXPANSION:
We expect to leverage the strength in our company-owned
business and strategically grow our international presence by
adding new countries of operation and expanding in existing
markets. In 2014, we added a new franchisee in Turkey and
restructured and expanded our franchise agreement in Germany
with the addition of two countries, Switzerland and Austria.
More People
CONTINUOUS IMPROVEMENT:
We intend to continuously grow our business with our core three
to twelve year-old consumer segment which represents a
majority of current revenue. We will focus on initiatives that drive
trial and increase repeat visits with an evolved segmentation,
product development and marketing strategy.
STRATEGIC EXPANSION:
We expect to strategically grow sales to consumers over twelve
years-old with a focus on key categories including gift-giving,
anity and collectibles. This consumer segment currently
represents over 20% of sales and has a tendency to over-index on
less price-sensitive “gift-able” and on-line purchases. Therefore,
we will leverage our e-commerce business to eciently target
these consumers.
BUILD-A-BEAR WORKSHOP, INC. 2014 ANNUAL REPORT 7