Shares of Build-A-Bear Workshop (NYSE: BBW) , the retailer of build-your-own stuffed toys, fell a dramatic 23.5% in early trading on March 10. Roughly 90 minutes into the market day the stock was still off by 18% or so. The reason for the decline was most likely the company's fiscal fourth-quarter 2021 earnings release.
From a big-picture perspective, the quarter was a good one. Sales of $130 million were up a huge 38.8% compared to the same quarter in 2020. And, perhaps more interesting, they were up 24.3% from the same period of 2019, prior to the pandemic. That said, sales in the quarter were negatively impacted by an estimated $1 million because of pandemic disruptions, but overall sales were clearly in recovery mode. The same story held true for the full fiscal year, with sales up 61.2% compared to 2020 and 21.6% compared to 2019.
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Why Build-A-Bear Workshop Stock Plunged as Much as 23.5% in Early Trading Today