Insider Trading : Mon 9/11/23

Notable purchases -- CFO & President add to FLWS; notable sales -- GC active in NPWR

Buyers:

• AVGO Director bought 11,000 shares at $872.0256 worth ~$9.6 mln.
• CECO Director bought 12,000 shares at $13.67 - $13.91 worth ~$165K.
• CODI 10% owner bought 10,000 shares at $20.18 - $20.26 worth ~$202K.
• DKS Director bought 2,200 shares at $109.99 - $110.00 worth ~$242K.
• FLWS Chief Financial Officer / SVP and the President bought a total of 55,000 shares at $6.09 - $6.34 worth ~$342K. 
• FNKO 10% owner bought 110,190 shares at $6.9587 worth ~$767K.
• SOL Chairman / 10% owner bought 119,836 shares at $3.14 - $3.32  worth ~$383K.
• TDW Director bought 1486 shares at $67.317 worth ~$100K.

Sellers:

• BBW CAO, Gen. Counsel & Secretary sold 11,582 shares at $27.37 - $27.44 worth ~$317K.
• ICUI Chief Operating Officer sold 6,850 shares at $128.54 - $129.91 worth ~$884K.
• KAI Director sold 1,200 shares at $219.7923 worth ~$264K.
• MGPI Member of 10% holder group sold 13,000 shares at $113.340 - $116.56 worth ~$1.5 mln.
• NPWR General Counsel and Secretary sold 28,606 shares at $15.00 - $15.63 worth ~$435K.

Build-A-Bear Workshop (BBW) reported earnings on Thur 15 Feb 2018 (b/o)

** charts after earnings **

 

 Build-A-Bear Workshop beats by $0.09, beats on revs; guides FY18 

• Reports Q4 (Dec) earnings of $0.43 per share, $0.09 better thanthe Capital IQ Consensus of $0.34; revenues fell 2.5% year/year to $107.58 mln vs the $104 mln two analyst estimate.
• Consolidated comparable sales decreased 8.0%, including a 6.5% decrease in North America and a 13.1% decrease in Europe inclusive of a consolidated comparable e-commerce sales increase of 11.7%;
• Retail gross margin expanded 510 basis points to 51.1% compared to 46.0% in the fiscal 2016 fourth quarter
• Co issues guidance for FY18, sees GAAP EPS of $0.53-0.57 vs. $0.56 Capital IQ GAAP Consensus Estimate; expects revenues to be 'slightly positive' vs. the $357.24 mln Capital IQ Consensus Estimate (+0.76% y/y). 

Build-A-Bear Workshop (BBW) reported earnings on Thur 16 Feb 2017 (b/o)

** charts after earnings **

 

 

Build-A-Bear Workshop misses by $0.40, misses on revs:

• Reports Q4 (Dec) adj. earnings of $0.31 per share, $0.40 worse than the Capital IQ Consensus of $0.71; revenues fell 6.3% year/year to $110.3 mln vs the $126.54 mln Capital IQ Consensus. The decline in total revenues reflects a decrease in consolidated comparable sales and unfavorable currency exchange rates partially offset by increases in commercial revenue from the Company's strategic wholesale and licensing initiatives; Consolidated net retail sales were $107.7 million compared to $116.5 million in the fiscal 2015 fourth quarter. Consolidated comparable sales decreased 8.3%, including a 10.2% decrease in North America and a 0.4% decrease in Europe. Consolidated comparable e-commerce sales increased 2.0%; Sales from stores remodeled in the Company's Discovery format in North America and the United Kingdom decreased an average of 1.7%. Retail gross margin declined 520 basis points to 46.0% compared to 51.2% in the fiscal 2015 fourth quarter, primarily driven by impairment charges and the deleveraging of fixed occupancy expenses.
  • In addition to the impact of the overall industry reported declines in mall traffic, principally in North America in December, the sales decrease versus expectations is attributable to: Changes in media and marketing tactics, shifts in licensed product sales and the execution of unplanned promotional activities; A decrease in Build-A-Bear gift card redemptions (despite a double-digit increase in fourth quarter gift card sales); and Missed e-commerce sales in December due to the inability of the Company's systems to manage the increased traffic to its site.
• In May 2016, the Company announced that its Board of Directors had authorized an exploration of a full range of strategic alternatives. No timetable has been set for the Company's review process. The Company does not expect to comment further or update the market with any additional information on the process unless and until the Board of Directors deems disclosure appropriate or necessary.
• Initiative: The Company expects to continue to make improvements to its aged store fleet by leveraging its new Discovery format in conjunction with select natural lease events. The Company also expects to continue to diversify stores into non-traditional locations inclusive of its new, lower capital, more flexible "concourse shop" model following initial results of a fourth quarter test. As noted, the Company expects to add 20 to 25 new locations in fiscal 2017 and close 5 to 10 existing locations to finish 2017 with 356 to 366 company-owned retail locations. Additionally, the Company expects its international franchisees to open approximately 10 stores in 2017, and it intends to add new franchise partners in select markets. Separately, the Company is planning a comprehensive enhancement of its website platform and upgrade of its e-commerce systems in order to capitalize on the changing consumer shopping patterns while expanding its enterprise selling capabilities. Company plans to continue to develop and expand its offering of successful intellectual property concepts balanced with core products and a comprehensive program of key licensed properties. The Company also expects to continue to expand its plush wholesale/corporate sales initiative and to build on its outbound branded licensed programs. The Company is focused on improving profitability through the execution of its stated strategies detailed above as well as disciplined expense management and on-going efforts in process and systems upgrades.

Build-A-Bear Workshop (BBW) reported earnings on Thur 27 Oct 2016 (b/o)

** charts after earnings **

 

Build-A-Bear Workshop reports EPS in-line, misses on revs; reaffirms FY16 total revenue outlook, lowers comps, pre-tax income guidance; no update on review of strategic alternatives :

• Reports Q3 (Sep) earnings of $0.11 per share, in-line with the Capital IQ Consensus of $0.11; revenues fell 2.2% year/year to $83.75 mln vs the $85.5 mln Capital IQ Consensus.
• Consolidated comparable sales (stores and e-commerce) decreased 2.2% following a 2.2% increase in the fiscal 2015 third quarter. The fiscal 2016 third quarter included a 1.6% decrease in North America, following a 0.1% increase in the fiscal 2015 third quarter and a 4.8% decrease in Europe, following an increase of 9.8% in the fiscal 2015 third quarter. Consolidated comparable e-commerce sales increased 25.2%, following a 4.1% increase in the fiscal 2015 third quarter;
• In May 2016, the Company announced that its Board of Directors had authorized an exploration of a full range of strategic alternatives. The Company retained Guggenheim Securities, LLC as its financial advisor and Bryan Cave LLP as its legal counsel to assist with the strategic review. No timetable has been set for the Company's review process. The Company does not expect to comment further or update the market with any additional information on the process unless and until its Board of Directors deems disclosure appropriate or necessary.
• Outlook:
  • Co continues to see total revenue to increase in the low single-digit range compared to the prior year
  • Sees Q4 consolidated comparable sales increasing in the low- to mid-single digit range resulting in consolidated comparable sales in the range of negative low-single-digit to positive low-single-digit for the 2016 fiscal year (Previously saw FY consolidated comparable sales increasing in the low single-digit range)
  • Pre-tax income to grow 5% to 15% compared to the prior year GAAP results, which reflects current foreign exchange rates. Excluding the impact of foreign exchange, pre-tax income is expected to grow 15% to 25% (Previously saw pre-tax income growing 10% to 20% compared to the prior year GAAP results, which reflects its current estimate of foreign exchange. Excluding the impact of foreign exchange, pre-tax income was expected to grow 15% to 25%)

Long trade : BBW +8% (7/16)

Build-A-Bear Workshop (BBW) reported earnings on Tue 16 Feb 2016 (b/o)

This week's biggest % winners & losers : Aug 3 - 7, 15 (wk 32)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare:IPCM (79.37 +43.14%),LXRX(11.38 +34.83%),MRGE (7.08 +28.96%),LHCG(51.12 +26.88%),NXTM (17.99 +25.98%),CO(6.97 +25.81%),ABMD (95.68 +23.52%)
• Materials:TSE (29.49 +21.06%)
• Industrials:EGL (30.44 +38.93%),KFRC (28.15 +20.45%)
• Consumer Discretionary:CZR (6.86 +31.67%),TWOU (38.31 +19.38%),LGIH (23.31 +19.29%), BBW (20.75 +18.91%)
• Information Technology:STMP (84.4 +23.03%),SSNI (13.31 +18.84%),RTEC (13.25 +18.09%)
• Financials:TREE (121.04 +45.97%)
• Consumer Staples:NUS (47.23 +19.12%),HLF(59.68 +18.2%)

This week's top 20 % losers

• Healthcare:AAC (17.77 -53.25%),FLDM (12.85 -35.85%),BCRX (10.9 -29.59%)
• Materials:CENX (5.18 -44.42%),CSTM (6.54 -41.08%),LXU (23.01 -37.66%)
• Industrials:TNET (18.52 -31.1%)
• Consumer Discretionary:LL (12.06 -37.51%),ETSY (13.44 -35.51%),ICON (14.92 -31.34%)
• Information Technology:SALE (8.62 -43.1%),SSTK (33.65 -37.02%),SUNE (14.96 -35.74%),TNGO (7.09 -35.66%),NPTN (5.76 -34.99%)
• Financials:PHH (15.6 -37.5%),RCAP (4 -31.39%),ONDK (9.18 -31.34%),GNW (4.82 -31.24%)
• Energy:PAGP (17.7 -30.97%)

Long trade : BBW +12% (7/15)