NEW YORK - Build-A-Bear Workshop, Inc. (NYSE: BBW) reported better-than-expected third-quarter results and raised its full-year guidance, sending shares up 1.45% in premarket trading Thursday.

The experiential retail company posted adjusted earnings per share of $0.73 for the third quarter, surpassing analyst estimates of $0.65. Revenue climbed 11% YoY to $119.4 million, exceeding the consensus forecast of $113.7 million.

Build-A-Bear's net retail sales increased 9.1% to $109.5 million, while e-commerce demand rose 1.3%. Commercial and international franchise revenues jumped 38.8% to $9.9 million.

"Our best-ever third-quarter performance brings us one step closer to a fourth consecutive year of record revenues, reflecting the evolution of the business model and the power of the Build-A-Bear brand," said Sharon Price John, President and CEO of Build-A-Bear Workshop.

The company raised its fiscal 2024 revenue guidance to $489-495 million, up from its previous forecast and in line with analyst expectations of $493.6 million. Build-A-Bear also increased its projected net new unit growth to at least 65 experience locations globally, up from 50 locations previously.

During the quarter, Build-A-Bear opened 17 new global experience locations, expanding its international footprint to over 20 countries. The company ended Q3 with 565 global locations across its various business models.

Build-A-Bear continued to return capital to shareholders, repurchasing $4.8 million worth of shares and paying a $2.7 million quarterly dividend during Q3. For the first nine months of fiscal 2024, the company has returned $31.3 million to shareholders through buybacks and dividends.

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