<SEC-DOCUMENT>0001157523-13-003545.txt : 20130725
<SEC-HEADER>0001157523-13-003545.hdr.sgml : 20130725
<ACCEPTANCE-DATETIME>20130725080029
ACCESSION NUMBER:		0001157523-13-003545
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130725
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130725
DATE AS OF CHANGE:		20130725

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:		13984998

	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>a50677544.htm
<DESCRIPTION>BUILD-A-BEAR WORKSHOP, INC. 8-K
<TEXT>
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      <br>
      <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-family: Times New Roman; font-size: 12pt"></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">July
      25, 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>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt">
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        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>&#160;&#160;&#160;&#160;&#160;Delaware&#160;&#160;&#160;&#160;&#160;</u>
          </p>
        </td>
        <td style="width: 34%; padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>&#160;&#160;&#160;&#160;&#160;001-32320&#160;&#160;&#160;&#160;&#160;</u>
          </p>
        </td>
        <td style="width: 33%; padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>&#160;&#160;&#160;&#160;&#160;43-1883836&#160;&#160;&#160;&#160;&#160;</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <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)
          </p>
        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            File Number)
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt">
      <tr>
        <td style="width: 10%">
          &#160;
        </td>
        <td style="width: 40%; text-align: center; padding-left: 0.0px; 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="width: 20%; text-align: center; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%; padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            63114
          </p>
        </td>
        <td style="width: 15%; text-align: center; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 10%">

        </td>
        <td style="width: 40%; text-align: center; padding-left: 0.0px" 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="width: 20%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%; text-align: center; padding-left: 0.0px" valign="top">
          <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="width: 15%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
    <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="font-size: 10pt; text-indent: 30.0px">
      <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="font-size: 10pt; text-indent: 30.0px">
      <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="font-size: 10pt; text-indent: 30.0px">
      <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="font-size: 10pt; text-indent: 30.0px">
      <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="font-size: 10pt; text-indent: 30.0px">
      <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; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-right: 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="color: black; height: 1.5pt">

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

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

    </p>
    <p style="white-space: nowrap">
      <u>Item 2.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition</u>.
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      On July 25, 2013, Build-A-Bear Workshop, Inc. (the &#8220;Company&#8221;) issued a
      press release setting forth the Company&#8217;s second quarter 2013 results.
      &#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="font-size: 10pt; text-indent: 30.0px">
      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>
    <p>

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

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

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

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

    </p>
    <p style="white-space: nowrap">
      <u>Item 9.01.&#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 cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt">
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" 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="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 20%; padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          99.1
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release dated July 25, 2013
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">
      <br>
      <br>

    </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 cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt">
      <tr>
        <td style="width: 5%">

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td style="width: 5%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Date:
        </td>
        <td style="width: 45%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            July 25, 2013
          </p>
        </td>
        <td style="width: 5%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          By:
        </td>
        <td style="text-align: left; padding-left: 0.0px; 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="width: 45%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 6%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Name:
          </p>
        </td>
        <td style="width: 39%; text-align: left; padding-left: 0.0px" 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="width: 6%; text-align: left; padding-left: 0.0px" valign="top">
          Title:
        </td>
        <td style="width: 39%; text-align: left; padding-left: 0.0px" 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="width: 39%; text-align: left; padding-left: 0.0px" 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; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

        </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 cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt">
      <tr>
        <td style="width: 20%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" 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="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 20%; padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="top">
          99.1
        </td>
        <td style="width: 80%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release dated July 25, 2013
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
    <p style="text-align: center">
      4
    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50677544ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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<!--All rights reserved www.businesswire.com-->
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    <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 Increased Sales and Improved Operating
      Performance in Second Quarter Fiscal 2013</b></font>
    </p>
    <p>

    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Consolidated
        net retail sales increase $1.4 million while operating 31 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>Consolidated
        comparable store sales increase 7.3% </b></font>
      </li>
    </ul>
    <p>

    </p>
    <p>
      ST. LOUIS--(BUSINESS WIRE)--July 25, 2013--Build-A-Bear Workshop, Inc.
      (NYSE: BBW), an interactive entertainment retailer, today reported
      results for the second quarter and twenty-six weeks ended June 29, 2013.
    </p>
    <p>
      <b>Second Quarter 2013 Highlights (13 weeks ended June 29, 2013):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $80.4 million while operating 31
        fewer stores compared to $79.0 million in the fiscal 2012 second
        quarter, an increase of 2.2%, excluding the impact of foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable store sales increased 7.3% and included an
        8.6% increase in North America and a 1.7% increase in Europe;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated e-commerce sales rose 5.2%, excluding the impact of
        foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Net loss was $6.2 million, or $0.38 per share, an improvement from a
        net loss of $7.6 million, or $0.46 per share in the fiscal 2012 second
        quarter; and
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted net loss was $5.4 million, or $0.33 per share, an improvement
        from an adjusted net loss of $7.5 million, or $0.46 per share, in the
        2012 second quarter. (See Reconciliation of Net Loss to Adjusted Net
        Loss.)
      </li>
    </ul>
    <p>
      Sharon Price John, Build-A-Bear Workshop&#8217;s Chief Executive Officer and
      Chief President Bear commented, &#8220;We continued to show progress in the
      second quarter with increased comparable store sales, growth in total
      sales on a lower store count and expansion in gross profit margin, as
      compared to last year. Our brand marketing, product and real estate
      initiatives led to our third consecutive quarter of positive comparable
      store sales in North America. This, along with a reduction in
      promotional activity, resulted in improved operating performance for the
      quarter and first half of the year.
    </p>
    <p>
      &#8220;We are intently focused on executing our plans for the balance of this
      year,&#8221; stated Ms. John. &#8220;As we move forward and solidify our longer term
      strategies, we will leverage the strength of&#160;the Build-A-Bear Workshop
      brand to return to profitability and build a platform for sustainable
      growth. We believe we have opportunities to evolve our business model to
      increase the lifetime value of our guests and further improve our
      efficiencies.&#8221;
    </p>
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    </div>
    <p>
      <b>Additional Second Quarter 2013 Details:</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $81.9 million while operating 31 fewer stores
        compared to $80.4 million in the 2012 second quarter, an increase of
        2.3%, excluding the impact of foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin expanded 180 basis points to 36.8% from 35.0% in
        the 2012 second quarter, primarily driven by leverage in occupancy
        cost and reduced promotional activity; and
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, general and administrative expense (&#8220;SG&amp;A&#8221;) was $36.9
        million, or 45.1% of total revenues, including $0.9 million in
        management transition and store closing expenses. This compares to
        $37.1 million, or 46.1% of total revenues in the fiscal 2012 second
        quarter.
      </li>
    </ul>
    <p>
      <b>First Six Months 2013 (26 weeks ended June 29, 2013):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $186.2 million compared to $176.8 million in the
        first six months of 2012, an increase of 5.5%, excluding the impact of
        foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $183.3 million, compared to $174.2
        million in the first six months of fiscal 2012, an increase of 5.4%,
        excluding the impact of foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable store sales increased 9.0% and included a 9.7%
        increase in North America and a 5.9% increase in Europe;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated e-commerce sales rose 6.3%, excluding the impact of
        foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin expanded 170 basis points to 39.4% from 37.7% in
        the first six months of 2012 primarily driven by leverage in occupancy
        costs and reduced promotional activity, partially offset by higher
        product costs in the first quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        SG&amp;A was $80.6 million, or 43.3% of revenues, a 40 basis point
        improvement from the first six months of 2012, including $3.2 million
        in management transition and store closing expenses as well as
        incremental marketing expenses in the first quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Net loss was $6.2 million or $0.38 per share, an improvement from a
        net loss of $8.6 million, or $0.53 per share in the first six months
        of fiscal 2012; and
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted net loss was $3.1 million or $0.19 per share, an improvement
        from an adjusted net loss of $8.0 million, or $0.49 per share in the
        first six months of fiscal 2012. (See Reconciliation of Net Loss to
        Adjusted Net Loss.)
      </li>
    </ul>
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    </div>
    <p>
      <b>Store Activity</b>
    </p>
    <p>
      During the quarter, the Company closed ten stores to end the period with
      323 company-owned stores &#8211; 263 in North America and 60 in Europe. (See
      Company-Owned Store Activity Schedule.) The Company remodeled four
      stores in its new design format. The Company&#8217;s international franchisees
      ended the quarter with 90 stores in 14 countries.
    </p>
    <p>
      The Company continues to expect to close an additional 20 to 35 stores
      in fiscal 2013 and 2014, along with limited, opportunistic store
      openings, 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
      2012.
    </p>
    <p>
      <b>Balance Sheet</b>
    </p>
    <p>
      The Company ended the 2013 second quarter with a strong balance sheet
      and no borrowings under its revolving credit facility. As of June 29,
      2013, cash and cash equivalents totaled $28.1 million, over half of
      which was domiciled outside the U.S. Total inventory at quarter end was
      $48.1 million compared to $47.0 million at quarter end 2012. Inventory
      per square foot increased 11.5%, as compared to the prior year period.
      The Company expects capital expenditures to be $19 to $22 million in
      fiscal 2013 to support the refresh and repositioning of stores and
      investment in infrastructure. Depreciation and amortization is expected
      to be approximately $20 million.
    </p>
    <p>
      <b>Accomplishments toward Long Term Objectives:</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b>Introduce a new store design &#8211; </b>At quarter end, the<b> </b>Company
        operated 11 newly imagined stores which continued to drive average
        same store sales increases of over 20% in the second quarter. The
        Company expects to operate approximately 30 locations in this new
        store format by the end of 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 38 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 16 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 an improvement in sales trend with
        comparable store sales increasing 9.7% in North America and 5.9% in
        Europe in the first six months of 2013.
      </li>
    </ul>
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      </div>
    </div>
    <ul>
      <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, followed by a 20% increase in the first
        six months of 2013. This contributed to increased retail sales in the
        first half of 2013 as the cards were redeemed.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Optimize the Company&#8217;s global presence </b>&#8211; The Company&#8217;s
        franchisees operated 90 international locations as of June 29, 2013.
        The Company expects its franchisees to open a total of 8 to 12
        locations in fiscal 2013 which are likely to be offset by select
        closures.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Improve cost efficiencies &#8211; </b>The Company continues to
        expect to realize cost savings of $5 million to $10 million in fiscal
        2013, which include expense reduction initiatives and savings from
        closed stores which will primarily be realized in the remainder of the
        year.
      </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
      August 8, 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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          &#160;
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          &#160;
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          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>
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          customer traffic may decrease in the shopping malls where we are
          located, on which we depend to attract guests to our stores;
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          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>
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        <td style="text-align: left; padding-left: 0.0px" valign="top">

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

        </td>
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          --
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        <td>

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

        </td>
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        </td>
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          we may not be able to operate our company-owned stores in the United
          Kingdom and Ireland profitably;
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        <td style="text-align: left; padding-left: 0.0px" 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>
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          the availability and costs of our products could be adversely
          affected by risks associated with international manufacturing and
          trade, including foreign currency fluctuation;
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        </td>
        <td style="text-align: left; padding-left: 0.0px" 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;
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          we may lose key personnel, be unable to hire qualified additional
          personnel, or experience turnover of our management team;
        </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;
        </td>
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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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          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="text-align: left; padding-left: 0.0px" valign="top">
          poor global economic conditions could have a material adverse effect
          on our liquidity and capital resources;
        </td>
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          we may have disputes with, or be sued by, third parties for
          infringement or misappropriation of their proprietary rights;
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          fluctuations in our quarterly results of operations could cause the
          price of our common stock to substantially decline; and
        </td>
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        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      All other brand names, product names, or trademarks belong to their
      respective holders.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-right: 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="color: black; height: 1.5pt">

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

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

        </td>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="18" valign="middle">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="18" valign="middle">
          <b>Unaudited Condensed Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="18" valign="middle">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="middle">
          &#160;
        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="middle">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="middle">
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

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

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="middle">
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="middle">
          <b>% of Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="middle">
          <b>% of Total</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt" colspan="2" valign="middle">
          <b>Revenues <sup>(1)</sup></b>
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px" valign="middle">

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Net retail sales
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          80,395
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          98.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          78,989
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          98.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Commercial revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          750
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          705
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.9
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px" valign="middle">
          Franchise fees
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          757
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          0.9
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          716
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          0.9
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px" valign="middle">
          Total revenues
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          81,902
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          100.0
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          80,410
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          100.0
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Costs and expenses:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Cost of merchandise sold
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          51,169
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          63.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          51,704
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          64.9
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Selling, general and administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          36,901
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          45.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          37,075
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          46.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px" valign="middle">
          Interest expense (income), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (55
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (63
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (0.1
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px" valign="middle">
          Total costs and expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          88,015
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          107.5
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          88,716
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          110.3
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px" valign="middle">
          Loss before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (6,113
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (7.5
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (8,306
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (10.3
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="middle">
          Income tax expense (benefit)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          105
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          0.1
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (755
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (0.9
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 4.0px" valign="middle">
          Net loss
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (6,218
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          (7.6
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (7,551
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          (9.4
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Loss per common share:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px; padding-bottom: 4.0px" valign="middle">
          Basic
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.38
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.46
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px; padding-bottom: 4.0px" valign="middle">
          Diluted
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.38
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.46
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="middle">
          Shares used in computing common per share

          <p style="margin-bottom: 0px; margin-top: 0px">
            amounts:
          </p>
        </td>
        <td colspan="8">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          16,460,474
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          16,458,889
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          16,460,474
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          16,458,889
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="18" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="18" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1) </b>Selected statement of operations data expressed as a
            percentage of total revenues, except cost of merchandise sold which<br>is
            expressed as a percentage of net retail sales and commercial
            revenue. Percentages will not total due to cost of<br>merchandise
            sold being expressed as a percentage of net retail sales and
            commercial revenue and immaterial rounding.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="18">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-right: 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="color: black; height: 1.5pt">

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

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

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

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

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

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

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

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="middle">

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="19" valign="middle">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="19" valign="middle">
          <b>Unaudited Condensed Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="19" valign="middle">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="middle">
          <b>26 Weeks</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="middle">
          <b>26 Weeks</b>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="middle">
          <b>% of Total</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="middle">
          <b>% of Total</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Net retail sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          183,326
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          98.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          174,189
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          98.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Commercial revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,223
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,081
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px" valign="middle">
          Franchise fees
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          1,618
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          0.9
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          1,513
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          0.9
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px" valign="middle">
          Total revenues
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          186,167
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          100.0
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          176,783
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          100.0
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Costs and expenses:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Cost of merchandise sold
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          111,640
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          60.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          109,170
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          62.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Selling, general and administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          80,636
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          43.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          77,201
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          43.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px" valign="middle">
          Interest expense (income), net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (106
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (149
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (0.1
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px" valign="middle">
          Total costs and expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          192,170
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          103.2
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          186,222
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          105.3
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px" valign="middle">
          Loss before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (6,003
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (3.2
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (9,439
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (5.3
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="middle">
          Income tax expense (benefit)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          202
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          0.1
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="middle">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (871
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (0.5
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 4.0px" valign="middle">
          Net loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (6,205
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          (3.3
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (8,568
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          (4.8
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          Loss per common share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px; padding-bottom: 4.0px" valign="middle">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.38
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.53
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px; padding-bottom: 4.0px" valign="middle">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.38
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; padding-bottom: 4.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.53
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="middle">
          Shares used in computing common per share

          <p style="margin-bottom: 0px; margin-top: 0px">
            amounts:
          </p>
        </td>
        <td>

        </td>
        <td colspan="8">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          16,345,882
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          16,248,884
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="middle">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          16,345,882
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          16,248,884
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" colspan="19" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1) </b>Selected statement of operations data expressed as a
            percentage of total revenues, except cost of merchandise sold which<br>is
            expressed as a percentage of net retail sales and commercial
            revenue. Percentages will not total due to cost of<br>merchandise
            sold being expressed as a percentage of net retail sales and
            commercial revenue and immaterial rounding
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="middle">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td colspan="17">

        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-right: 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt">
      <tr>
        <td colspan="13">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="13">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="13" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="13" valign="top">
          <b>Unaudited Condensed Consolidated Balance Sheets</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="13" valign="top">
          (dollars in thousands, except share and per share data)
        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="4" valign="top">
          <b>December 29,</b>
        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>June 30,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2012</b>
        </td>
        <td>

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

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

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          28,061
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          26,450
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          48,134
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          47,029
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Receivables
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          6,866
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          4,935
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          13,115
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          13,604
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Deferred tax assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          269
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          469
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          96,445
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          92,487
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          68,273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          73,518
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          32,643
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other intangible assets, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          611
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Other assets, net
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          3,258
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          6,704
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Total Assets
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          168,587
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          192,102
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          205,947
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="13" valign="top">
          <b>LIABILITIES AND STOCKHOLDERS' EQUITY</b>
        </td>
        <td>

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

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          33,897
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          24,253
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accrued expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          8,547
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          7,227
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Gift cards and customer deposits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          24,744
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          22,848
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Deferred revenue
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          4,892
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          5,568
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px; padding-bottom: 2.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          72,080
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          59,896
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Deferred franchise revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,057
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1,301
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          18,099
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          22,075
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

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

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Stockholders' equity:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Common stock, par value $0.01 per share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          173
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          67,225
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          66,060
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (8,949
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (9,082
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          18,332
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          65,266
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px; padding-bottom: 2.0px" valign="top">
          Total stockholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          76,781
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          122,418
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px" valign="top">
          Total Liabilities and Stockholders' Equity
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          168,587
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          192,102
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          205,947
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-right: 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt">
      <tr>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="19" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="19" valign="top">
          <b>Unaudited Selected Financial and Store Data</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="19" valign="top">
          (dollars in thousands, except square foot data)
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="top">
          <b>26 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="top">
          <b>26 Weeks</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Retail gross margin ($) <sup>(1)</sup>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          29,563
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          27,666
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          72,252
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          65,677
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          36.8
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          35.0
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          39.4
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          37.7
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2,289
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2,191
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          5,628
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          5,316
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Capital expenditures, net <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          5,209
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          4,525
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          8,304
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          4,761
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          5,273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          9,677
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          10,636
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          285
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          North America - Non-traditional
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          11
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 35.0px" valign="top">
          Total North America
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          263
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          58
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 4.0px" valign="top">
          Total stores
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          323
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          354
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          90
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          84
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          728,639
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          817,486
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          North America - Non-traditional
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          9,759
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          18,120
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 35.0px" valign="top">
          Total North America
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          738,398
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          835,606
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Europe <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          86,331
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          83,631
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 4.0px" valign="top">
          Total square footage
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          824,729
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          919,237
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          8.6
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (1.8
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )%
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          1.1
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          1.7
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (1.3
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          5.9
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (6.0
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )%
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 35.0px" valign="top">
          Consolidated
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          7.3
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (1.7
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          9.0
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="top">
          (1)
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Retail gross margin represents net retail sales less retail cost
            of merchandise sold. Retail gross<br>margin percentage represents
            retail gross margin divided by net retail sales.
          </p>
        </td>
        <td>

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

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Capital expenditures, net represents cash paid for property,
            equipment, other assets and other<br>intangible assets.
          </p>
        </td>
        <td>

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

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Excludes our webstore and pop-up, seasonal and event-based
            locations. North American stores are<br>located in the United
            States, Canada and Puerto Rico. In Europe, stores are located in
            the United<br>Kingdom and Ireland.
          </p>
        </td>
        <td>

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

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="top">
          Square footage for stores located in Europe is estimated selling
          square footage.
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="top">
          (5)
        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="17" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Comparable store sales percentage changes are based on net retail
            sales and stores are considered<br>comparable beginning in their
            thirteenth full month of operation.
          </p>
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-right: 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>* Non-GAAP Financial Measures</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" 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 cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt">
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="18" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="18" valign="top">
          <b>Reconciliation of Net Loss to Adjusted Net Loss</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="18" valign="top">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>26 Weeks</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>26 Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>June 30,</b>
        </td>
        <td>

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

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>June 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (6,218
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (7,551
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (6,205
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (8,568
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Management transition costs<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          506
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          2,251
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Store closing costs<sup> (2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          340
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          128
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Losses from investment in affiliate<sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (5,372
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (7,511
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (3,050
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (7,965
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>13 Weeks</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>26 Weeks</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>26 Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>June 30,</b>
        </td>
        <td>

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

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="3" valign="top">
          <b>June 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" colspan="3" valign="bottom">
          <b>2012</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Net loss per share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (0.38
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (0.46
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (0.38
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (0.53
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Management transition costs<sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.14
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Store closing costs<sup> (2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.02
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.05
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          0.01
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Losses from investment in affiliate<sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.33
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.46
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.19
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (0.49
        </td>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" colspan="18" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (1)&#160;Represents management transition costs related to the change in<br>&#160;&#160;&#160;&#160;Chief
            Executive. Costs include severance, along with benefits and
            related taxes,<br>&#160;&#160;&#160;&#160;executive search fees, signing bonus and
            professional fees.
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" colspan="18" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (2) Represents the net impact related to the closing of stores,
            including asset impairment and<br>&#160;&#160;&#160;&#160;disposal charges and
            severance costs along with adjustments to lease related
            liabilities.
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; text-align: left; padding-left: 15.0px; white-space: nowrap" colspan="18" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (3) Represents non-recurring charge related to the Company's
            investment in Ridemakerz.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-left: 0pt; text-indent: 0pt; margin-right: 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 8pt">
      <tr>
        <td colspan="18">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="18" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="18" valign="top">
          <b>Company-Owned Store Activity</b>
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Traditional
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (26)
        </td>
        <td>

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

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

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (35)
        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          (28)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          263
        </td>
        <td>

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

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

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          258
        </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>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 4.0px" valign="top">
          Total
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          (28)
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          323
        </td>
        <td>

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

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

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

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

        </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>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Traditional
          </p>
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap" valign="bottom">
          285
        </td>
        <td>

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

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

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

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 35.0px; padding-bottom: 4.0px" valign="top">
          Total
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td style="padding-right: 0.0px; text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          354
        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      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 to 70 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, along with
      limited, opportunistic store openings. 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.
    </p>
    <p>
      CONTACT:<br>Build-A-Bear Workshop<br>Investors: Tina Klocke,
      314.423.8000 x5210<br>Media: Jill Saunders, 314.423.8000 x5293
    </p>
    <p style="white-space: nowrap">

    </p>
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