Build-A-Bear expects to meet expectations in 2008

By Associated Press
July 24, 2008 | Comments (0)

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Build-A-Bear Workshop Inc., which sells customer-personalized stuffed animals, said Thursday it expects to meet the average of analyst expectations in fiscal 2008 amid a difficult environment.

Analysts polled by Thomson Financial, on average, predict a profit of 68 cents per share for the year. Estimates range from a high of 90 cents per share to a low of 35 cents per share.

Build-A-Bear Workshop said it will slow new store growth in fiscal 2009, which ends Jan 2, 2010, opening four new stores in North America, compared with 20 in 2008. It will open two stores in Europe next year, compared with five in 2008.

Capital expenditures are expected to fall to $15 million for 2009, compared with $35 million in 2008.

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