<SEC-DOCUMENT>0001157523-13-002265.txt : 20130502
<SEC-HEADER>0001157523-13-002265.hdr.sgml : 20130502
<ACCEPTANCE-DATETIME>20130502074523
ACCESSION NUMBER:		0001157523-13-002265
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20130430
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130502
DATE AS OF CHANGE:		20130502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BUILD A BEAR WORKSHOP INC
		CENTRAL INDEX KEY:			0001113809
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-HOBBY, TOY & GAME SHOPS [5945]
		IRS NUMBER:				431883836
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0101

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32320
		FILM NUMBER:		13805418

	BUSINESS ADDRESS:	
		STREET 1:		1954 INNERBELT BUSINESS CENTRE DRIVE
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63114
		BUSINESS PHONE:		314-423-8000

	MAIL ADDRESS:	
		STREET 1:		1954 INNERBELT BUSINESS CENTRE DRIVE
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63114
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50623446.htm
<DESCRIPTION>BUILD-A-BEAR WORKSHOP, INC. 8-K
<TEXT>
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      <font style="font-family: Times New Roman; font-size: 12pt">UNITED STATES</font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">WASHINGTON,
      DC 20549</font><br><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-family: Times New Roman; font-size: 12pt">FORM
      8-K</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">CURRENT
      REPORT PURSUANT</font><br><font style="font-family: Times New Roman; font-size: 12pt">TO
      SECTION 13 OR 15&#160;(d) OF THE</font><br><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      EXCHANGE ACT OF 1934</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">Date
      of report (Date of earliest event</font><br><font style="font-family: Times New Roman; font-size: 12pt">reported)</font><font style="font-family: Times New Roman; font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 12pt">April
      30, 2013</font><br><br>
    </p>
    <p style="text-align: center">
      <u><font style="font-size: 12pt">&#160;&#160;&#160;&#160;&#160;Build-A-Bear Workshop, Inc.&#160;&#160;&#160;&#160;</font></u><br><font style="font-family: Times New Roman; font-size: 12pt">(Exact
      Name of Registrant as Specified in Its Charter)</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><br>
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            <u>&#160;&#160;&#160;&#160;&#160;Delaware&#160;&#160;&#160;&#160;&#160;</u>
          </p>
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            <u>&#160;&#160;&#160;&#160;&#160;001-32320&#160;&#160;&#160;&#160;&#160;</u>
          </p>
        </td>
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            <u>&#160;&#160;&#160;&#160;&#160;43-1883836&#160;&#160;&#160;&#160;&#160;</u>
          </p>
        </td>
      </tr>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or Other
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Jurisdiction of
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Incorporation)
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            File Number)
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
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          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 40%; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1954 Innerbelt Business Center Drive<br>St. Louis, Missouri
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 20%; padding-bottom: 2.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
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        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 15%; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            63114
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 15%; padding-bottom: 2.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
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        <td style="width: 10%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 40%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of Principal Executive Offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 20%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Zip
            Code)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 15%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
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    <p style="text-align: center">
      <u><font style="font-family: Times New Roman; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(314)
      423-8000&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></u><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-size: 10pt">(Registrant&#8217;s
      Telephone Number, Including Area Code)</font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions </font>(<i>see </i>General Instruction A.2.
      below):
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="white-space: nowrap">
      <u>Item 1.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Entry into a Material Definitive Agreement</u>.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      On April 30, 2013, Build-A-Bear Workshop, Inc. (the &#8220;Company&#8221;) and all
      of its domestic subsidiaries (collectively with the Company, the
      &#8220;Borrower&#8221;) entered into a Thirteenth Amendment to Loan Documents (the
      &#8220;Loan Document Amendment&#8221;) with U.S. Bank National Association (&#8220;U.S.
      Bank&#8221;), which amends the Company&#8217;s Fourth Amended and Restated Loan
      Agreement (the &#8220;Credit Agreement&#8221;) and the Fourth Amended and Restated
      Revolving Credit Note (the &#8220;Revolving Credit Note&#8221;) with U.S. Bank.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      The Loan Document Amendment reduces the minimum tangible net worth
      covenant to $70,000,000 and reduces the fixed charge coverage ratio<b> </b>covenant
      to be 1.10 to 1.00 for the four fiscal quarter periods ended March 30,
      2013, June 29, 2013, September 28, 2013, and 1.15 to 1.00 for each four
      fiscal quarter period thereafter. Except for the changes in the
      preceding sentence, the terms and conditions of the Credit Agreement
      remain unchanged.&#160;&#160;The Borrower does not currently have any outstanding
      borrowings under the Credit Agreement and is currently in compliance
      with the Credit Agreement covenants.
    </p>
    <p>
      <u>Relationship to U.S. Bank</u>
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      The Company has or may have had customary banking relationships with
      U.S. Bank based on the provision of a variety of financial services,
      including lending, commercial banking and other advisory services.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      The foregoing description of the Loan Document Amendment is only a
      summary of certain terms and conditions of the document and is qualified
      in its entirety by reference to the Loan Document Amendment, which has
      been filed as Exhibit 10.1 hereto and which is incorporated by reference
      herein. In addition, the Company has previously filed the Credit
      Agreement and the Revolving Credit Note as Exhibits 10.1 and 10.2,
      respectively, to its Current Report on Form 8-K, filed on August 13,
      2008, as amended by the Seventh Amendment to Loan Documents previously
      filed as Exhibit 10.1 to its Current Report on Form 8-K, filed on
      October 29, 2009, the Eighth Amendment to Loan Documents previously
      filed as Exhibit 10.1 to its Current Report on Form 8-K, filed on
      January 4, 2011, and the Ninth Amendment to Loan Documents previously
      filed as Exhibit 10.1 to its Current Report on Form 8-K, filed on
      January 4, 2012, the Tenth Amendment to Loan Documents previously filed
      as Exhibit 10.1 to its Current Report on Form 8-K, filed on July 26,
      2012, the Eleventh Amendment to Loan Documents previously filed as
      Exhibit 10.1 to its Current Report on Form 8-K, filed on December 21,
      2012, and the Twelfth Amendment to Loan Documents previously filed as
      Exhibit 10.1 to its Current Report on Form 8-K, filed on February 14,
      2013, which documents have also been incorporated by reference in the
      Company&#8217;s Annual Report on Form 10-K for the year ended December 29,
      2012 (File No. 001-32320), filed on March 14, 2013; the foregoing
      description of those documents is also only a summary of certain terms
      and conditions therein and is qualified in its entirety to such
      documents as previously filed.<br><br><br><u>Item 2.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results
      of Operations and Financial Condition</u>.
    </p>
    <p>
      On May 2, 2013, Build-A-Bear Workshop, Inc. (the &#8220;Company&#8221;) issued a
      press release setting forth the Company&#8217;s first quarter 2013 earnings.
      &#160;A copy of the Company&#8217;s press release is being furnished as Exhibit
      99.1 and hereby incorporated by reference.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      The information furnished in, contained, or incorporated by reference
      into this Item 2.02, including Exhibit 99.1 attached hereto, is being
      furnished and shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of
      the Securities and Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) or
      otherwise subject to the liabilities of that section, nor shall it be
      deemed incorporated by reference in any filing under the Securities Act
      of 1933, as amended, or the Exchange Act, regardless of any general
      incorporation language in such filing.&#160;&#160;In addition, this report
      (including Exhibit 99.1) shall not be deemed an admission as to the
      materiality of any information contained herein that is required to be
      disclosed solely as a requirement of this Item.
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 10pt">
          2
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="white-space: nowrap">
      <u>Item 9.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</u>.
    </p>
    <p style="white-space: nowrap">
      (d)&#160;&#160;Exhibits
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 20%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description of Exhibit</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 20%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            10.1
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Thirteenth Amendment to Loan Documents between Build-A-Bear
            Workshop, Inc., Build-A-Bear Workshop Franchise Holdings, Inc.,
            Build-A-Bear Entertainment, LLC, Build-A-Bear Retail Management,
            Inc., as Borrowers, and U.S. Bank National Association, as Lender,
            entered into effective as of April 30, 2013
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 20%; padding-right: 0.0px; white-space: nowrap" valign="top">
          99.1
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release dated May 2, 2013
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 10pt">
          3
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURES</font>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            BUILD-A-BEAR WORKSHOP, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 5%; padding-bottom: 2.0px" valign="top">
          Date:
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            May 2, 2013
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%; padding-bottom: 2.0px" valign="top">
          By:
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom: solid black 1.0pt" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Tina Klocke
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Name:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 39%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Tina Klocke
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          Title:
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 39%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Operations and Financial Bear,
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 39%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Secretary and Treasurer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 10pt">
          4
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      EXHIBIT INDEX
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 20%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description of Exhibit</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 20%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            10.1
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Thirteenth Amendment to Loan Documents between Build-A-Bear
            Workshop, Inc., Build-A-Bear Workshop Franchise Holdings, Inc.,
            Build-A-Bear Entertainment, LLC, Build-A-Bear Retail Management,
            Inc., as Borrowers, and U.S. Bank National Association, as Lender,
            entered into effective as of April 30, 2013
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td style="width: 80%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 20%; padding-right: 0.0px; white-space: nowrap" valign="top">
          99.1
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release dated May 2, 2013
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
    <p style="text-align: center">
      5
    </p>
  </body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a50623446ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2013 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p>

    </p>
    <p style="text-align: right">
      <b>Exhibit 10.1</b>
    </p>
    <p style="text-align: center">
      <u><b>THIRTEENTH AMENDMENT TO LOAN DOCUMENTS</b></u>
    </p>
    <p style="text-align: justify; text-indent: 60.0px">
      <b>BUILD-A-BEAR WORKSHOP, INC. </b>(&#8220;BABWI&#8221;),<b> </b>successor
      by merger to BUILD-A-BEAR WORKSHOP, LLC, <b>BUILD-A-BEAR WORKSHOP
      FRANCHISE HOLDINGS, INC. </b>(&#8220;BABWF&#8221;),<b> BUILD-A-BEAR
      ENTERTAINMENT, LLC </b>(&#8220;BABE&#8221;),<b> BUILD-A-BEAR RETAIL
      MANAGEMENT, INC. </b>(&#8220;BABRM&#8221;),<b> </b>jointly and severally
      (individually and collectively, the &quot;Borrower&quot;), and <b>U.S.
      BANK NATIONAL ASSOCIATION</b> (&quot;Lender&quot;), hereby agree as follows
      effective as of April 30, 2013 (the &quot;Effective Date&quot;):
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1.
          </p>
        </td>
        <td style="padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Recitals</b></u>.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.1
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Build-A-Bear Workshop, LLC entered into a Loan Agreement
          and related loan and security documents dated as of March 1, 2000
          pursuant to which the Lender extended a revolving credit facility to
          the Borrower (the &#8220;Loan&#8221;).
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.2
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender, Build-A-Bear Workshop, LLC and BABWI entered into an
          assumption and amendment agreement dated as of April 3, 2000,
          whereby BABWI assumed all of the obligations of its predecessor in
          interest, Build-A-Bear Workshop, LLC.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.3
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the terms of the Loan by the First
          Amended and Restated Loan Agreement and related loan and security
          documents dated as of June 1, 2001 (the &#8220;First Amended Loan
          Agreement&#8221;).
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.4
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended and restated the First Amended Loan
          Agreement by the Second Amended and Restated Loan Agreement dated as
          of February 13, 2002 (the &#8220;Second Amended Loan Agreement&#8221;) and
          Borrower delivered to Lender in connection therewith the First
          Amended and Restated Revolving Credit Note and the First Amended and
          Restated Security Agreement.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.5
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Second Amended Loan Agreement and
          related Loan Documents pursuant to the First Amendment to Loan
          Documents effective as of May 30, 2003 to add additional borrowers
          to the Loan Documents, to revise certain financial covenants in the
          Loan Documents, and to add Build-A-Bear Workshop Canada, Ltd. (&#8220;Bear
          Canada&#8221;) as a guarantor of the obligations under the Loan Documents.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.6
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Second Amended Loan Agreement and
          related Loan Documents pursuant to the Second Amendment to Loan
          Documents effective as of December 31, 2003 to add an additional
          borrower to the Loan Documents.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.7
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Second Amended Loan Agreement and
          related Loan Documents pursuant to the Third Amendment to Loan
          Documents effective as of May 31, 2004 to extend the Maturity Date
          and to change certain other terms and covenants in the Loan
          Documents.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.8
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Second Amended Loan Agreement and
          related Loan Documents pursuant to the Fourth Amendment to Loan
          Documents effective as of September 28, 2004 to correct the name of
          Bear Canada.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.9
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended and restated the Second Amended Loan
          Agreement by the Third Amended and Restated Loan Agreement dated as
          of May 31, 2005 (the &#8220;Third Amended Loan Agreement&#8221;) and Borrower
          delivered to Lender in connection therewith the Second Amended and
          Restated Revolving Credit Note.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.10
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Third Amended Loan Agreement and
          related Loan Documents pursuant to the Fifth Amendment to Loan
          Documents effective as of June 30, 2006 to add Build-A-Bear Workshop
          UK Holdings, Ltd. (&#8220;Bear UK&#8221;) as a Borrower and to change certain
          other terms and covenants in the Loan Documents and Borrower
          delivered to Lender in connection therewith the Third Amended and
          Restated Revolving Credit Note.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.11
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Third Amended Loan Agreement and
          related Loan Documents pursuant to the Sixth Amendment to Loan
          Documents effective as of June 19, 2007 to extend the Maturity Date.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.12
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended and restated the Third Amended Loan
          Agreement by the Fourth Amended and Restated Loan Agreement dated as
          of August 11, 2008 (the &#8220;Fourth Amended Loan Agreement&#8221;) and
          Borrower delivered to Lender in connection therewith the Fourth
          Amended and Restated Revolving Credit Note (the &#8220;Fourth Amended
          Revolving Credit Note&#8221;).
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.13
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Fourth Amended Loan Agreement, the
          Fourth Amended Revolving Note, and the related Loan Documents
          pursuant to the Seventh Amendment to Loan Documents effective as of
          October 28, 2009 to extend the Maturity Date, to adjust the rate of
          interest, and to modify certain covenants.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.14
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Fourth Amended Loan Agreement, the
          Fourth Amended Revolving Note, and the related Loan Documents
          pursuant to the Eighth Amendment to Loan Documents effective as of
          December 31, 2010 to extend the Maturity Date, to adjust the rate of
          interest, and to modify certain covenants.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.15
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Fourth Amended Loan Agreement, the
          Fourth Amended Revolving Note, and the related Loan Documents
          pursuant to the Ninth Amendment to Loan Documents effective as of
          December 30, 2011 to extend the Maturity Date, and to modify certain
          covenants.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.16
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Fourth Amended Loan Agreement, the
          Fourth Amended Revolving Note, and the related Loan Documents
          pursuant to the Tenth Amendment to Loan Documents effective as of
          June 30, 2012 to modify the Tangible Net Worth Covenant.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.17
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Lender and Borrower amended the Fourth Amended Loan Agreement, the
          Fourth Amended Revolving Note, and the related Loan Documents
          pursuant to the Eleventh Amendment to Loan Documents effective as of
          December 21, 2012 to reduce the Total Facility, to extend the
          Maturity Date, and to modify certain other terms of the Loan
          Documents.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 8pt">
          - 2 -
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.18
        </td>
        <td style="padding-left: 0.0px" colspan="2" valign="top">
          Lender and Borrower amended the Fourth Amended Loan Agreement, the
          Fourth Amended Revolving Note, and the related Loan Documents
          pursuant to the Twelfth Amendment to Loan Documents effective as of
          February 13, 2013 to modify the Fixed Charge Coverage Ratio.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.19
        </td>
        <td style="padding-left: 0.0px" colspan="2" valign="top">
          Lender and Borrower intend to amend the Fourth Amended Loan
          Agreement pursuant to this Thirteenth Amendment to Loan Documents
          (this &#8220;Amendment&#8221;) to modify the Fixed Charge Coverage Ratio and
          Tangible Net Worth covenants.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          1.20
        </td>
        <td style="padding-left: 0.0px" colspan="2" valign="top">
          Capitalized terms used herein and not otherwise defined will have
          the meanings given such terms in the Fourth Amended Loan Agreement.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2.
          </p>
        </td>
        <td style="padding-left: 0.0px" colspan="3" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Amendments</b></u>.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          2.1
        </td>
        <td style="padding-left: 0.0px" colspan="2" valign="top">
          Section 6.4 of the Fourth Amended Loan Agreement is hereby deleted
          and replaced with the following:
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            6.4
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 88%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Minimum Tangible Net Worth</b></u><b>. </b>Permit the
            Tangible Net Worth of Borrower on a consolidated basis to be less
            than $70,000,000 as of each fiscal quarter end.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          2.2
        </td>
        <td style="padding-left: 0.0px" colspan="2" valign="top">
          Section 6.6 of the Fourth Amended Loan Agreement is hereby deleted
          and replaced with the following:
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            6.6
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 88%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Fixed Charge Coverage Ratio</b></u><b>.</b> Permit the ratio
            of: (i) the sum of net income, plus depreciation, plus
            amortization, plus interest expense, plus income taxes, plus
            operating lease payments, minus the amount of cash actually
            expended for taxes and dividends, minus an amount for maintenance
            capital expenditures equal to $5,000,000, to (ii) the sum of
            scheduled principal payments on Indebtedness including capitalized
            lease payments, plus the amount of cash actually expended for
            interest and operating lease payments, all for Borrower on a
            consolidated basis, to be less than: (a) 1.10 to 1.00 as of March
            30, 2013, June 29, 2013, and September 28, 2013, or (b) 1.15 to
            1.00 as of each fiscal quarter end thereafter, in each case for
            the four (4) fiscal quarter period then ending.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            3.
          </p>
        </td>
        <td style="padding-left: 0.0px" colspan="3" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>General</b></u>.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.1
        </td>
        <td style="padding-left: 0.0px" colspan="2" valign="top">
          Except as expressly modified herein, the Loan Documents, as amended,
          are and remain in full force and effect. The Loan Documents are
          hereby ratified and confirmed as the continuing obligation of
          Borrower. Nothing contained herein will be construed as waiving any
          Default or Event of Default under the Loan Documents or will affect
          or impair any right, power or remedy of Lender under or with respect
          to the Loan Documents, as amended, or any agreement or instrument
          guaranteeing, securing or otherwise relating to any of the
          Obligations.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.2
        </td>
        <td style="padding-left: 0.0px" colspan="2" valign="top">
          Borrower represents and warrants to Lender that: (a) this Amendment
          and the documents to be executed by Borrower in connection with this
          Amendment have been duly authorized, executed and delivered by
          Borrower; (b) each has full power and authority to enter into this
          Amendment; (c) this Amendment and the documents executed by Borrower
          in connection with this Amendment constitute the legal, valid and
          binding obligations of Borrower enforceable in accordance with their
          respective terms except as such enforceability may be limited by
          applicable bankruptcy, reorganization, insolvency, moratorium or
          similar laws in effect from time to time affecting the rights of
          creditors generally and except as such enforceability may be subject
          to general principles of equity (regardless of whether such
          enforceability is considered in a proceeding in law or in equity);
          and (d) no Default or Event of Default exists. The representations
          and warranties of Borrower contained in the Loan Documents are
          deemed to have been made again on and as of the date of execution of
          this Amendment, except to the extent that such representations and
          warranties were expressly limited to an earlier date.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 8pt">
          - 3 -
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.3
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          All representations and warranties made by Borrower herein will
          survive the execution and delivery of this Amendment.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.4
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          This Amendment will be binding upon and inure to the benefit of
          Borrower and Lender and their respective successors and assigns.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.5
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Borrower will pay attorneys&#8217; fees and expenses of Lender incurred in
          connection with this Amendment and related documentation. Such fees,
          expenses may be charged to Borrower by Lender as a Revolving Credit
          Loan.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.6
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          This Amendment will in all respects be governed and construed in
          accordance with the laws of the State of Ohio.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.7
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          A copy of this Amendment may be attached to the Fourth Amended
          Revolving Credit Note as an allonge. This Amendment is a &#8220;Loan
          Document&#8221; as defined in the Fourth Amended Loan Agreement.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.8
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          This Amendment and the documents and instruments to be executed
          hereunder constitute the entire agreement among the parties with
          respect to the subject matter hereof and shall not be amended,
          modified or terminated except by a writing signed by the party to be
          charged therewith.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.9
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          Borrower agrees to execute such other instruments and documents and
          provide Lender with such further assurances as Lender may reasonably
          request to more fully carry out the intent of this Amendment.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.10
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          This Amendment may be executed in a number of identical
          counterparts. If so, each such counterpart shall collectively
          constitute one agreement. Any signature delivered by a party by
          facsimile or other electronic transmission shall be deemed to be an
          original signature hereto.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.11
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          No provision of this Amendment is intended or shall be construed to
          be for the benefit of any third party.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 92%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 4%; padding-right: 0.0px; white-space: nowrap" valign="top">
          3.12
        </td>
        <td style="padding-left: 0.0px; width: 92%" valign="top">
          <b>BORROWER AND LENDER HEREBY WAIVE ANY AND ALL RIGHT TO TRIAL BY
          JURY IN ANY ACTION RELATING TO THIS INSTRUMENT AND TO ANY OF THE
          LOAN DOCUMENTS, THE OBLIGATIONS THEREUNDER, ANY COLLATERAL SECURING
          THE OBLIGATIONS, OR ANY TRANSACTION ARISING THEREFROM OR CONNECTED
          THERETO. BORROWER AND LENDER EACH REPRESENTS TO THE OTHER THAT THIS
          WAIVER IS KNOWINGLY, WILLINGLY AND VOLUNTARILY GIVEN.</b>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>SIGNATURE PAGE FOLLOWS</b>
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 8pt">
          - 4 -
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>SIGNATURE PAGE TO THIRTEENTH AMENDMENT TO LOAN DOCUMENTS </b>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="width: 45%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <b>U.S. BANK NATIONAL ASSOCIATION</b>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <b>Lender</b>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>/s/ Charles L. Thomas</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          Charles L. Thomas
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          Senior Vice President
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>BUILD-A-BEAR WORKSHOP, INC.,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>BUILD-A-BEAR WORKSHOP FRANCHISE HOLDINGS, INC.,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>BUILD-A-BEAR RETAIL MANAGEMENT, INC.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Borrowers</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>/s/ Maxine Clark</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          Maxine Clark
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          Chief Executive Officer
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>BUILD-A-BEAR ENTERTAINMENT, LLC,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By: Build-A-Bear Retail Management, Inc.,
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Sole Member
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Borrower</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>/s/ Maxine Clark</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          Maxine Clark
        </td>
      </tr>
      <tr>
        <td style="width: 45%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Executive Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-size: 8pt">- 5 -</font>
    </p>
    <p>

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a50623446ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2013 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Build-A-Bear
      Workshop, Inc. Reports First Quarter Fiscal 2013 Results</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Consolidated
        Comparable Store Sales Increase 10.4%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Consolidated
        Net Retail Sales Increase 8.0% with 24 Fewer Stores than Last Year</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Net
        Income of $13,000 versus Net Loss of $1.0 Million Last Year</b></font>
      </li>
    </ul>
    <p>
      ST. LOUIS--(BUSINESS WIRE)--May 2, 2013--Build-A-Bear Workshop, Inc.
      (NYSE: BBW), an interactive entertainment retailer, today reported
      results for the 2013 first quarter ended March 30, 2013.
    </p>
    <p>
      <b>First Quarter 2013 Highlights:</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $102.9 million with 24 fewer stores
        compared to $95.2 million in the 2012 first quarter, an increase of
        8.0%, excluding the impact of foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable store sales increased 10.4% and included a
        10.6% increase in North America and a 9.7% increase in Europe;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated e-commerce sales rose 7.0%, excluding the impact of
        foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Net income of $13,000, or $0.00 per diluted share, improved from a net
        loss of $1.0 million, or $0.06 per share in the 2012 first quarter; and
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted net income was $2.3 million, or $0.14 per diluted share,
        compared to an adjusted net loss of $0.5 million, or $0.03 per share
        in the 2012 first quarter. (See Reconciliation of Net Income (Loss) to
        Adjusted Net Income (Loss))
      </li>
    </ul>
    <p>
      Maxine Clark, Build-A-Bear Workshop&#8217;s Chief Executive Bear commented,
      &#8220;We have had a strong start to the year with a double digit increase in
      consolidated comparable store sales, growth in e-commerce and a return
      to profitability in the first quarter. Our positive trend has continued
      into the second quarter with year-to-date through April consolidated
      comps up 10.1%, which normalizes the change in the timing of Easter.
    </p>
    <p>
      &#8220;We remain intently focused on our objectives including refreshing
      stores in our updated design, right sizing our store base and adjusting
      our marketing messaging to emphasize our brand experience. Our first six
      remodeled stores continue to have strong average sales increases of 25%
      and we expect to remodel approximately 25 additional stores in the new
      design in 2013. In the quarter, we closed 18 stores and transferred over
      20% of those sales to other stores in the same markets. Our brand
      messaging is working, driving traffic and engaging both existing and new
      guests with our brand. We continue to have a strong balance sheet with
      $41 million in cash and no debt,&#8221; Ms. Clark concluded.
    </p>
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    </div>
    <p>
      <b>Additional Operating Highlights</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $104.3 million with 24 fewer stores compared to
        $96.4 million in the fiscal 2012 first quarter, an increase of 8.5%,
        excluding the impact of foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin improved to 41.5% from 39.9% in the 2012 first
        quarter. This 160 basis point improvement was primarily driven by the
        leverage of fixed buying and occupancy costs on higher comparable
        store sales, which more than offset the impact of higher product
        costs; and
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, general and administrative expenses totaled $43.7 million or
        41.9% of total revenues and included incremental marketing and store
        closing expenses, as well as $1.8 million in management transition
        costs. This compares to $40.1 million, or 41.6% of total revenues in
        the fiscal 2012 first quarter.
      </li>
    </ul>
    <p>
      <b>Store Activity</b>
    </p>
    <p>
      During the quarter, the Company closed 18 stores to end the period with
      333 company-owned stores &#8211; 273 in North America and 60 in Europe. (See
      Company-Owned Store Activity Schedule.) The Company&#8217;s international
      franchisees added one store, net of closures, finishing the fiscal 2013
      first quarter with 92 stores in 14 countries.
    </p>
    <p>
      The Company continues to expect to close an additional 30 to 45 stores
      in fiscal 2013 and 2014 to reach its optimal store count of 225 to 250
      stores in North America. These select store closures are expected to
      transfer approximately 20% of sales to other stores in the same markets,
      which is consistent with the average transfer rate of the stores closed
      since 2011.
    </p>
    <p>
      <b>Balance Sheet</b>
    </p>
    <p>
      The Company ended the 2013 first quarter with a strong balance sheet and
      no borrowings under its revolving credit facility. As of March 30, 2013,
      cash and cash equivalents totaled $40.8 million, approximately half of
      which was domiciled outside the U.S. Total inventory at quarter end was
      $37.8 million. Inventory per square foot decreased 10.3%, as compared to
      the prior year period.
    </p>
    <p>
      In 2013, the Company continues to expect capital expenditures to be
      approximately $20 to $25 million and depreciation and amortization is
      expected to be approximately $20 to $22 million.
    </p>
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    </div>
    <p>
      <b>Accomplishments Toward Long Term Objectives:</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b>Introduce a new store design &#8211; </b>The<b> </b>Company
        operated six newly imagined stores which continued to drive
        significant sales increases, up an average of 25% in the first
        quarter. The Company is on track to remodel approximately 25 locations
        in this new store format in 2013 with an additional 20 to 25 locations
        planned in 2014.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Improve store productivity and profitability &#8211;</b>The Company
        has closed 28 stores since the beginning of 2012 transferring over 20%
        of those sales to other stores in the same markets. In addition, the
        Company reduced the square footage of 11 other stores since the
        beginning of 2012 by remodeling and moving them to smaller locations
        within the same malls.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Increase shopping frequency</b> &#8211; The Company reintroduced brand
        building TV advertising in its U.S. markets beginning in mid-October
        2012 and rebalanced the mix of marketing in Europe to drive customer
        traffic, further engage existing guests and attract new guests to its
        stores. This contributed to a significant improvement in sales trend
        with comparable store sales increasing 10.6% in North America and 9.7%
        in Europe in the first quarter of 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Reinforce Build-A-Bear Workshop as a top destination for gifts</b>
        &#8211; The Company capitalized on its brand advertising to drive the gift
        of experience which led to a 30% increase in the issuance of gift
        cards at its stores on a consolidated basis during last year&#8217;s peak
        fourth quarter gifting period. This contributed to increased retail
        sales in the 2013 first quarter as the cards were redeemed. The
        Company gained momentum in the issuance of new gift cards in the first
        quarter with a 35% increase, positioning it for continued growth in
        redemptions throughout the balance of the fiscal year.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Increase the Company&#8217;s global presence </b>&#8211; The Company&#8217;s
        franchisees added one international location, net of closures and
        remain on track to open a total of 8 to 12 locations in fiscal 2013.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Improve cost efficiencies &#8211;</b>The Company expects to realize
        cost savings of $5 million to $10 million in fiscal 2013 which include
        expense reduction initiatives and savings from closed stores.
      </li>
    </ul>
    <p>
      <b>Today&#8217;s Conference Call Webcast</b>
    </p>
    <p>
      Build-A-Bear Workshop will host a live Internet webcast of its quarterly
      investor conference call at 9 a.m. ET today. The audio broadcast may be
      accessed at the Company&#8217;s investor relations Web site, <u>http://IR.buildabear.com</u>.
      The call is expected to conclude by 10 a.m ET.
    </p>
    <p>
      A replay of the conference call webcast will be available in the
      investor relations Web site for one year. A telephone replay will be
      available beginning at approximately noon ET today until midnight ET on
      May 16, 2013. The telephone replay is available by calling (858)
      384-5517. The access code is 412352.
    </p>
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      </div>
    </div>
    <p>
      <b>About Build-A-Bear Workshop, Inc.</b>
    </p>
    <p>
      Build-A-Bear Workshop, Inc. is the only global company that offers an
      interactive make-your-own stuffed animal retail-entertainment
      experience. There are more than 400 Build-A-Bear Workshop stores
      worldwide, including company-owned stores in the U.S., Puerto Rico,
      Canada, the United Kingdom and Ireland, and franchise stores in Europe,
      Asia, Australia, Africa, the Middle East, Mexico and South America.
      Founded in St. Louis in 1997, Build-A-Bear Workshop is the leader in
      interactive retail. Brands include make-your-own Major League Baseball<sup>&#174;</sup>
      mascot in-stadium locations, and Build-A-Dino<sup>&#174;</sup> stores.
      Build-A-Bear Workshop extends its in-store interactive experience online
      with its award winning virtual world Web site at bearville.com<sup>&#174;</sup>.
      The company was named to the FORTUNE 100 Best Companies to Work For<sup>&#174;</sup>
      list for the fifth year in a row in 2013. Build-A-Bear Workshop (NYSE:
      BBW) posted total revenue of $380.9 million in fiscal 2012. For more
      information, call 888.560.BEAR (2327) or visit the company's
      award-winning Web site at buildabear.com<sup>&#174;</sup>.
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      The following Management&#8217;s Discussion and Analysis of Financial
      Condition and Results of Operations contains forward-looking statements
      that involve risks and uncertainties. Our actual results may differ
      materially from the results discussed in the forward-looking statements.
      These risks and uncertainties include, without limitation, those
      detailed under the caption &#8220;Risk Factors&#8221; in our annual report on Form
      10-K for the year ended December 29, 2012, as filed with the SEC, and
      the following:
    </p>
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    </div>
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          &#160;
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          --
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          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          general global economic conditions may continue to deteriorate,
          which could lead to disproportionately reduced consumer demand for
          our products, which represent relatively discretionary spending;
        </td>
      </tr>
      <tr>
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        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          --
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          customer traffic may decrease in the shopping malls where we are
          located, on which we depend to attract guests to our stores;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

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        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to generate interest in and demand for our
          interactive retail experience, or to identify and respond to
          consumer preferences in a timely fashion;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

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        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          our marketing and on-line initiatives may not be effective in
          generating sufficient levels of brand awareness and guest traffic;
        </td>
      </tr>
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        <td style="padding-left: 0.0px; text-align: left" valign="top">

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        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to generate comparable store sales growth;
        </td>
      </tr>
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        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to effectively operate or manage the overall
          portfolio of our company-owned stores;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may not be able to operate our company-owned stores in the United
          Kingdom and Ireland profitably;
        </td>
      </tr>
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          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to renew or replace our store leases, or enter into
          leases for new stores on favorable terms or in favorable locations,
          or may violate the terms of our current leases;
        </td>
      </tr>
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        <td style="padding-left: 0.0px; text-align: left" valign="top">

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          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          the availability and costs of our products could be adversely
          affected by risks associated with international manufacturing and
          trade, including foreign currency fluctuation;
        </td>
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          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          our products could become subject to recalls or product liability
          claims that could adversely impact our financial performance and
          harm our reputation among consumers;
        </td>
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          --
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          we may lose key personnel, be unable to hire qualified additional
          personnel, or experience turnover of our management team;
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          --
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        <td>

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          we are susceptible to disruption in our inventory flow due to our
          reliance on a few vendors;
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          high petroleum products prices could increase our inventory
          transportation costs and adversely affect our profitability;
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          we may be unable to effectively manage our international franchises
          or laws relating to those franchises may change;
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          we may improperly obtain or be unable to adequately protect customer
          information in violation of privacy or security laws or customer
          expectations;
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          we may suffer negative publicity or be sued due to violations of
          labor laws or unethical practices by manufacturers of our
          merchandise;
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          we may suffer negative publicity or negative sales if the
          non-proprietary toy products we sell in our stores do not meet our
          quality or sales expectations;
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          we may be unable to operate our company-owned distribution center
          efficiently or our third-party distribution center providers may
          perform poorly;
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          our market share could be adversely affected by a significant, or
          increased, number of competitors;
        </td>
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          --
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          we may fail to renew, register or otherwise protect our trademarks
          or other intellectual property;
        </td>
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          --
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        <td>

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        <td style="padding-left: 0.0px; text-align: left" valign="top">
          poor global economic conditions could have a material adverse effect
          on our liquidity and capital resources;
        </td>
      </tr>
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          --
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        <td>

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          we may have disputes with, or be sued by, third parties for
          infringement or misappropriation of their proprietary rights;
        </td>
      </tr>
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          --
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          fluctuations in our quarterly results of operations could cause the
          price of our common stock to substantially decline; and
        </td>
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          --
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        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to repurchase shares of our common stock at the
          times or in the amounts we currently anticipate or the results of
          the share repurchase program may not be as beneficial as we
          currently anticipate.
        </td>
      </tr>
    </table>
    </div>
    <p>
      All other brand names, product names, or trademarks belong to their
      respective holders.
    </p>
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      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="16" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="16" valign="top">
          <b>Unaudited Condensed Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="16" valign="top">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>March 30,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>% of Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>% of Total</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" colspan="2" valign="top">
          <b>Revenues <sup>(1)</sup></b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Revenues <sup>(1)</sup></b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="4" valign="top">
          Revenues:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Net retail sales
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          102,931
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          98.7
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          95,200
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          98.8
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Commercial revenue
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          473
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          376
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.4
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" colspan="6" valign="top">
          Franchise fees
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          861
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          797
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.8
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" colspan="4" valign="top">
          Total revenues
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          104,265
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          100.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          96,373
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          100.0
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="7" valign="top">
          Costs and expenses:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Cost of merchandise sold
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60,471
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          58.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          57,466
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60.1
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Selling, general and administrative
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          43,735
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          41.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          40,126
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          41.6
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" colspan="6" valign="top">
          Interest expense (income), net
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (51)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (0.0)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (86)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (0.1)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" colspan="4" valign="top">
          Total costs and expenses
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          104,155
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          99.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          97,506
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          101.2
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="4" valign="top">
          Income (loss) before income taxes
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          110
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1,133)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1.2)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" colspan="7" valign="top">
          Income tax expense (benefit)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          97
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (116)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (0.1)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" colspan="4" valign="top">
          Net income (loss)
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          13
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          0.0
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1,017)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          (1.1)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="7" valign="top">
          Earnings (loss) per common share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" colspan="3" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.00
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (0.06)
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" colspan="4" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.00
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (0.06)
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="14" valign="top">
          Shares used in computing common per share amounts:
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="3" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          16,231,291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          16,038,880
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="4" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          16,231,291
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          16,038,880
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (1)
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Selected statement of operations data expressed as a percentage of
            total revenues, except cost of merchandise sold which is expressed
            as a percentage of net retail sales and commercial revenue.
            Percentages will not total due to cost of merchandise sold being
            expressed as a percentage of net retail sales and commercial
            revenue and immaterial rounding.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Unaudited Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>March 30,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <b>December 29,</b>
        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="4" valign="top">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Current assets:
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Cash and cash equivalents
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          40,826
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          45,171
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          33,501
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          37,824
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          46,904
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          45,584
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Receivables
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,804
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          9,428
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,170
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          13,168
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          14,216
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,926
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left; padding-bottom: 2.0px" colspan="4" valign="top">
          Deferred tax assets
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          73
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          987
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          480
        </td>
      </tr>
      <tr>
        <td style="padding-left: 65.0px; text-align: left" colspan="5" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          97,695
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          116,706
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          99,661
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          68,048
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          71,459
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          74,771
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Goodwill
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          33,423
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Other intangible assets, net
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          617
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          633
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          728
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left; padding-bottom: 2.0px" colspan="5" valign="top">
          Other assets, net
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,513
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,304
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,929
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" colspan="5" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Total Assets
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          169,873
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          192,102
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          215,512
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 60.0px; text-align: left" colspan="5" valign="top">
          <b>LIABILITIES AND STOCKHOLDERS' EQUITY</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Current liabilities:
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Accounts payable
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          25,918
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          38,984
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          22,741
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Accrued expenses
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,698
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,570
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,296
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Gift cards and customer deposits
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          27,439
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          30,849
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          25,221
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left; padding-bottom: 2.0px" colspan="4" valign="top">
          Deferred revenue
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,017
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,800
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,431
        </td>
      </tr>
      <tr>
        <td style="padding-left: 65.0px; text-align: left; padding-bottom: 2.0px" colspan="5" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Total current liabilities
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          67,072
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          86,203
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60,689
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Deferred franchise revenue
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,115
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,177
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,368
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Deferred rent
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          19,068
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20,843
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          22,728
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Other liabilities
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          595
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          742
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          257
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" colspan="5" valign="top">
          Stockholders' equity:
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Common stock, par value $0.01 per share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          171
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          171
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          174
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          66,318
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          66,112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          65,168
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" colspan="4" valign="top">
          Accumulated other comprehensive income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (9,016)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (7,683)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (7,689)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left; padding-bottom: 2.0px" colspan="4" valign="top">
          Retained earnings
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          24,550
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          24,537
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          72,817
        </td>
      </tr>
      <tr>
        <td style="padding-left: 65.0px; text-align: left; padding-bottom: 2.0px" colspan="5" valign="top">
          Total stockholders' equity
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          82,023
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          83,137
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          130,470
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left; padding-bottom: 4.0px" colspan="5" valign="top">
          Total Liabilities and Stockholders' Equity
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          169,873
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          192,102
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          215,512
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <b>Unaudited Selected Financial and Store Data</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          (dollars in thousands, except square foot data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>13 Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Ended</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>March 30,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="3" valign="top">
          <b>Other financial data:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          Retail gross margin ($) <sup>(1)</sup>
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          42,689
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          38,011
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          Retail gross margin (%) <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          41.5%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          39.9%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          E-commerce sales
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,339
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,125
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          Capital expenditures, net <sup>(2)</sup>
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,807
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,779
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          Depreciation and amortization
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,916
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,362
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="3" valign="top">
          <b>Store data <sup>(3)</sup>:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          Number of company-owned stores at end of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          North America - Traditional
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          267
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          288
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          North America - Non-traditional
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Total North America
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          299
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          58
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total stores
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          333
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          357
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          Number of franchised stores at end of period
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          92
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          82
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          Company-owned store square footage at end of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          North America - Traditional
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          761,072
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          831,280
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          North America - Non-traditional
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          9,759
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          18,120
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Total North America
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          770,831
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          849,400
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Europe <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          86,331
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          83,911
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total square footage
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          857,162
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          933,311
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          Comparable store sales change (%)<sup> (5)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          North America
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10.6%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3.6%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          9.7%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (10.1)%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Consolidated
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10.4%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.2%
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          (1)
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Retail gross margin represents net retail sales less retail cost of
          merchandise sold. Retail gross margin percentage represents retail
          gross margin divided by net retail sales.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          (2)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Capital expenditures, net represents cash paid for property,
          equipment, other assets and other intangible assets.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          (3)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          North American stores are located in the United States, Canada and
          Puerto Rico. In Europe, stores are located in the United Kingdom and
          Ireland.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          (4)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Square footage for stores located in Europe is estimated selling
          square footage.
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          (5)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Comparable store sales percentage changes are based on net retail
          sales and stores are considered comparable beginning in their
          thirteenth full month of operation.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <b>* Non-GAAP Financial Measures</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          In this press release, the Company&#8217;s financial results are provided
          both in accordance with generally accepted accounting principles
          (GAAP) and using certain non-GAAP financial measures. In particular,
          the Company provides historic earnings (loss) and earnings (loss)
          per diluted share adjusted to exclude certain costs and accounting
          adjustments, which are non-GAAP financial measures. These results
          are included as a complement to results provided in accordance with
          GAAP because management believes these non-GAAP financial measures
          help identify underlying trends in the Company&#8217;s business and
          provide useful information to both management and investors by
          excluding certain items that may not be indicative of the Company&#8217;s
          core operating results. These measures should not be considered a
          substitute for or superior to GAAP results.
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>13 Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>Ended</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>March 30,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="2" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="2" valign="bottom">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="7" valign="top">
          Net income (loss)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          13
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1,017)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Management transition costs<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,747
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Store closing costs<sup> (2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          564
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          88
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" colspan="6" valign="top">
          Losses from investment in affiliate<sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          475
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" colspan="7" valign="top">
          Adjusted net income (loss)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,324
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (454)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>13 Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>Ended</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>March 30,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="2" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="2" valign="bottom">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Net income (loss)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.00
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (0.06)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Management transition costs<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.10
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="6" valign="top">
          Store closing expense<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.00
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" colspan="6" valign="top">
          Losses from investment in affiliate<sup>(3)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.03
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" colspan="7" valign="top">
          Adjusted net income (loss)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.14
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (0.03)
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          (1)
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Represents management transition costs related to the retirement
            and replacement of the Chief Executive Bear.&#160;&#160;Costs include
            severance, legal fees and benefits along with related taxes and
            executive search fees.
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          (2)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Represents the net impact related to the closing of stores,
          including asset impairment and disposal charges and severance costs
          along with adjustments to lease related liabilities.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          (3)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Represents non-recurring charge related to the Company's investment
          in Ridemakerz.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="18" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="18" valign="top">
          <b>Company-Owned Store Activity</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="15" valign="bottom">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" colspan="7" valign="top">
          <b>Thirteen Weeks</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" colspan="7" valign="top">
          <b>Fifty-two Weeks - Projected</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 29,</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>March 30,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 29,</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Opened</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Closed</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Opened</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Closed</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2013</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          North America
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Traditional
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          283
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (16)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          267
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          283
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (34)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          252
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          291
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (18)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          273
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          291
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (36)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          259
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          59
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          351
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (18)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          333
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          351
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (37)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          318
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="15" valign="bottom">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" colspan="7" valign="top">
          <b>Thirteen Weeks</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" colspan="7" valign="top">
          <b>Fifty-two Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 31,</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>March 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 31,</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 29,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2011</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Opened</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Closed</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2011</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Opened</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Closed</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          North America
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Traditional
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          287
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          288
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          287
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (6)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          283
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (4)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          298
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          299
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          298
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (10)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          291
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          58
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          58
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          58
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          60
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          356
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          357
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          356
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (10)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          351
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          The Company's long term store real estate goal is to bring its
          stores back to best in class productivity and profitability. Today,
          the Company believes that the optimal number of Build-A-Bear
          Workshop stores in North America is between 225 to 250 and 60 to70
          in the United Kingdom and Ireland for a total of 285 to 320 stores.
          The Company currently expects to reach this level with the closure
          of 60 to 70 stores in fiscal 2012 through 2014, primarily in North
          America. Locations to close and the timing of the closures are
          subject to ongoing negotiations and overall economic considerations
          as market repositioning and optimization plans are continually
          reevaluated.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Build-A-Bear Workshop<br>Investors: Tina Klocke,
      314-423-8000 x5210<br>Media: Jill Saunders, 314.423.8000 x5293<br>
    </p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
