Carnival Corp.

Build-A-Bear helps people make their own custom stuffed toys. Customers use an interactive process to create personalized gifts. The company sells items through physical stores and online sites.

Toys, Gifts, and Partnerships

• Direct to Consumer: Corporately-managed retail stores and e-commerce sites; accounted for 90.5% of total revenues in the thirteen weeks ended May 2, 2026.
• Commercial Revenue: Wholesale product sales and intellectual property licensing for third-party use; represented 8.7% of total revenues in the thirteen weeks ended May 2, 2026.
• International Franchising: Royalties and fixture sales from partners operating under franchise agreements; made up 0.8% of total revenues in the thirteen weeks ended May 2, 2026.

Expanding Beyond the Mall

• Increased the footprint of partner-operated locations to 181 sites by May 2, 2026.
• Collaborated with hospitality brands including Carnival Cruise Line, Great Wolf Lodge Resorts, and Landry's.
• Partnered with Girl Scouts of the USA to expand wholesale operations and brand reach.
• Added a net of seven new experience locations during the thirteen weeks ended May 2, 2026.

More Than a Toy Store

The company operates a vertical retail model that turns traditional stores into interactive entertainment centers. Its retailtainment strategy uses physical shops as distribution points to fulfill online orders more efficiently.

Tracking Financial Performance

• Revenue was $125.3 million for the thirteen weeks ended May 2, 2026, down 2.4% year-over-year.
• EBITDA reached $27.7 million for the thirteen weeks ended May 2, 2026, up 20% year-over-year.
• Cash and cash equivalents totaled $26.2 million as of May 2, 2026, with no outstanding debt on its credit facility.
• Inventory levels grew 8% year-over-year to $77.8 million as of May 2, 2026.

The Evolution of Gifting

Build-A-Bear has transitioned from a mall-based children's retailer into a multi-channel brand focused on gifting for all ages. Its shift toward wholesale and digital sales helps manage changing consumer shopping habits.