Bloomberg Talks
Build-A-Bear CEO Talks Holiday Sales
Dec 1, 2023
Build-A-Bear CEO discusses the company's holiday sales. Topics include: unexpected softness in sales, nature of toys, consumer spending, international expansion, extending brand through movies and marketing strategies.
07:11
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Quick takeaways
- Build-A-Bear Workshop experienced unexpected softness in sales during October, possibly due to economic changes and geopolitical unrest, but sales have started to recover in recent weeks.
- Build-A-Bear Workshop is seeing an increase in business by focusing on personalized experiences and licensed products, and is actively pursuing international partnerships for expansion.
Deep dives
Unexpected softness in sales
Build-A-Bear Workshop experienced unexpected softness in sales during the final two weeks of October, which could be attributed to changes in economic outlook, concerns from consumers, and geopolitical unrest. However, sales have started to tick back up in recent weeks. The impact of economic conditions on the toy industry depends on the target market and their discretionary income. While the toy industry is often considered recession-resistant, consumer choices may vary during times of economic softness.
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