(RTTNews) - Build-A-Bear Workshop, Inc. (BBW) said, on a preliminary basis, the company expects EBIT in third quarter to be in the range of break-even to a loss of $1.5 million. Gross profit margin is anticipated to expand in the range of 450 to 550 basis points, compared to 39.3%, last year.
For the third quarter, total revenues are projected to be in the range of $72.0 million to $74.0 million compared to $70.4 million, last year. The company expects to achieve growth in net retail sales even with approximately 7% fewer operating days.
Also, the company expects to maintain a solid balance sheet with quarter-end cash and cash equivalents of at least $20 million and to be current on substantially all of its rent payments.
The company expects to report third quarter results in early December.
Shares of Build-A-Bear Workshop were up 12% in pre-market trade on Tuesday.
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