<SEC-DOCUMENT>0001157523-15-000624.txt : 20150219
<SEC-HEADER>0001157523-15-000624.hdr.sgml : 20150219
<ACCEPTANCE-DATETIME>20150219074529
ACCESSION NUMBER:		0001157523-15-000624
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150219
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150219
DATE AS OF CHANGE:		20150219

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:		15630244

	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>a51043100.htm
<DESCRIPTION>BUILD-A-BEAR WORKSHOP, INC. 8-K
<TEXT>
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      <br>
      <font style="font-size: 12pt; font-family: Times New Roman">UNITED STATES</font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font><br><br><font style="font-size: 12pt; font-family: Times New Roman">WASHINGTON,
      DC 20549</font><br><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt; font-family: Times New Roman">FORM
      8-K</font><br><br><font style="font-size: 12pt; font-family: Times New Roman">CURRENT
      REPORT PURSUANT</font><br><font style="font-size: 12pt; font-family: Times New Roman">TO
      SECTION 13 OR 15&#160;(d) OF THE</font><br><font style="font-size: 12pt; font-family: Times New Roman">SECURITIES
      EXCHANGE ACT OF 1934</font><br><br><font style="font-size: 12pt; font-family: Times New Roman">Date
      of report (Date of earliest event</font><br><font style="font-size: 12pt; font-family: Times New Roman">reported)</font><font style="font-size: 10pt; font-family: Times New Roman">
      </font><font style="font-size: 12pt; font-family: Times New Roman">February
      19, 2015</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-size: 12pt; font-family: Times New Roman">(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 style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
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        <td style="padding-left: 0.0px; text-align: center; width: 33%" 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="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap; width: 34%" 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="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap; width: 33%" 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="padding-left: 0.0px; text-align: center; width: 33%" 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="padding-left: 0.0px; text-align: center; width: 34%" 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="padding-left: 0.0px; text-align: center; width: 33%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 10%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; width: 40%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1954 Innerbelt Business Center Drive<br>St. Louis, Missouri
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center; width: 26%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap; width: 15%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            63114
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center; width: 9%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 10%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 40%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of Principal Executive Offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 26%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 15%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Zip
            Code)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 9%" 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-size: 10pt; font-family: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(314)
      423-8000&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></u><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></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-size: 10pt; font-family: Times New Roman">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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-size: 10pt; font-family: Times New Roman">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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-size: 10pt; font-family: Times New Roman">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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-size: 10pt; font-family: Times New Roman">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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <br>
      <u>Item 2.02.&#160;&#160;&#160;&#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 February 19, 2015, Build-A-Bear Workshop, Inc. (the &#8220;Company&#8221;) issued
      a press release setting forth the Company&#8217;s results for the fourth
      quarter and full 2014 fiscal year. &#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.<br>
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

    </p>
    <p style="white-space: nowrap">
      <u>Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</u>.
    </p>
    <p style="white-space: nowrap">
      (d)&#160;&#160;Exhibits
    </p>
    <p style="white-space: nowrap">
      <u>Exhibit Number</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description
      of Exhibit</u>
    </p>
    <p style="white-space: nowrap">
      99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press Release dated February 19, 2015<br><br><br>
    </p>
    <p style="text-align: left">

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

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

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          Date:
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            February 19, 2015
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          By:
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Voin Todorovic
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 39%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Title: Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

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

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

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

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap; width: 20%" valign="top">
          99.1
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 80%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release dated February 19, 2015
          </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>a51043100ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Build-A-Bear
      Workshop, Inc. Reports an $18 Million Improvement in Operating
      Performance for the 2014 Fiscal Year</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Consolidated
        comparable store sales increase 9.9% for the 2014 fourth quarter and
        increase 1.6% for the fiscal year</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Retail
        gross margin expands 730 basis points for the fourth quarter and 450
        basis points for the 2014 fiscal year</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Pre-tax
        income improves to $12.6 million for the 2014 fourth quarter and to
        $16.0 million for the 2014 fiscal year from a pre-tax loss of $2.1
        million for the 2013 fiscal year</b></font>
      </li>
    </ul>
    <p>
      ST. LOUIS--(BUSINESS WIRE)--February 19, 2015--Build-A-Bear Workshop,
      Inc. (NYSE:BBW) today reported results for the fourth quarter and fiscal
      year ended January 3, 2015.
    </p>
    <p>
      <b>Fourth Quarter 2014 Highlights (14 weeks ended January 3, 2015):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $130.0 million, compared to $106.3
        million in the fiscal 2013 fourth quarter (13 weeks ended December 28,
        2013);
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable store sales increased 9.9%, including an 8.5%
        increase in North America and a 14.0% increase in Europe (fourth
        quarter comparable store sales are compared to the 14-week period
        ended January 4, 2014);
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin expanded 730 basis points to 52.2% compared to
        44.9% in the fiscal 2013 fourth quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Net income improved to $11.8 million, or $0.67 per diluted share,
        compared to net income of $5.4 million, or $0.31 per diluted share in
        the fiscal 2013 fourth quarter; and
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted net income improved to $12.8 million, or $0.73 per diluted
        share, compared to adjusted net income of $6.9 million, or $0.40 per
        diluted share in the fiscal 2013 fourth quarter. (See Reconciliation
        of Net Income (Loss) to Adjusted Net Income.)
      </li>
    </ul>
    <p>
      Sharon Price John, Build-A-Bear Workshop&#8217;s Chief Executive Officer
      commented, &#8220;The fourth quarter marked a strong finish to the year for
      Build-A-Bear Workshop. In the quarter, we delivered a 9.9% increase in
      consolidated comparable store sales, a 730 basis point expansion in
      retail gross margin and adjusted net income of $12.8 million up from
      $6.9 million in the fourth quarter of 2013. During the year, we made
      steady progress toward our stated long term sales productivity and
      profitability goals with sales growth across geographies, increased
      sales per square foot and expanded four-wall contribution margin.
    </p>
    <p>
      &#8220;We are leveraging our momentum from the fourth quarter and are off to a
      positive start in 2015,&#8221; Ms. John continued. &#8220;Our priorities in the year
      ahead are focused on continuing the disciplined execution of our
      strategy while capitalizing on our powerful brand to generate
      incremental revenue and profit streams for our Company. During the year,
      we expect to see additional progress toward our goal to drive continuous
      improvement and sustained profitable growth.&#8221;
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
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          <hr style="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      <b>Additional Fourth Quarter 2014 Details (14 weeks ended January 3,
      2015):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $131.5 million compared to $108.1 million in the
        fiscal 2013 fourth quarter (13 weeks ended December 28, 2013);
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated e-commerce sales rose 9.0%, excluding the impact of
        foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, general and administrative expense (&#8220;SG&amp;A&#8221;) was $56.4
        million, or 42.9% of total revenues, including $1.0 million in
        management transition, asset impairment and store closing expenses.
        This compares to $44.3 million, or 40.9% of total revenues in the
        fiscal 2013 fourth quarter, including $1.5 million in management
        transition, store closing and asset impairment expenses. Excluding
        these costs in both periods, SG&amp;A increased 260 basis points to 42.1%
        of total revenues in the fiscal 2014 fourth quarter; and
      </li>
      <li style="margin-bottom: 10.0px">
        Pre-tax income improved to $12.6 million compared to pre-tax income of
        $5.0 million in the 2013 fourth quarter.
      </li>
    </ul>
    <p>
      <b>Fiscal Year 2014 (53 weeks ended January 3, 2015):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $392.4 million compared to $379.1 million in
        fiscal 2013 (52 weeks ended December 28, 2013);
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $387.7 million, compared to $373.2
        million in the 2013 fiscal year;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable store sales increased 1.6% and included a 1.4%
        increase in North America and a 2.3% increase in Europe (full year
        comparable store sales are compared to the 53-week period ended
        January 4, 2014);
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated e-commerce sales rose 3.5%, excluding the impact of
        foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin expanded 450 basis points to 45.6% compared to
        41.1% in fiscal 2013;
      </li>
      <li style="margin-bottom: 10.0px">
        SG&amp;A was $164.4 million, or 41.9% of revenues, including $2.2 million
        in management transition, asset impairment and store closing expenses,
        compared to $160.7 million, or 42.4% of revenues in fiscal 2013,
        including $5.3 million in management transition, asset impairment and
        store closing expenses. Excluding these costs in both periods, SG&amp;A
        increased 30 basis points to 41.3% of total revenues in fiscal 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        Pre-tax income improved to $16.0 million from a pre-tax loss of $2.1
        million in fiscal 2013;
      </li>
      <li style="margin-bottom: 10.0px">
        Net income improved to $14.4 million or $0.81 per diluted share
        compared to net loss of $2.1 million or $0.13 per share in fiscal
        2013; and
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted net income improved to $16.5 million or $0.93 per diluted
        share, compared to adjusted net income of $2.9 million or $0.17 per
        diluted share in fiscal 2013. (See Reconciliation of Net Income (Loss)
        to Adjusted Net Income.)
      </li>
    </ul>
    <p>
      <b>Store Activity:</b>
    </p>
    <p>
      During the year, the Company closed 15 stores and opened 16 locations to
      end the year with 324 Company-owned stores including 265 in North
      America and 59 in Europe. (See Company-Owned Store Activity Schedule.)
      The Company&#8217;s international franchisees ended the year with 71 stores.
    </p>
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        </div>
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        </div>
      </div>
    </div>
    <p>
      <b>Balance Sheet:</b>
    </p>
    <p>
      As of January 3, 2015, cash and cash equivalents totaled $65.4 million.
      The Company ended the 2014 fourth quarter with no borrowings under its
      revolving credit facility. Total inventory at year end was $51.9 million
      compared to $50.2 million at 2013 year end. Inventory per square foot
      increased 4.9% as compared to the prior year period. In fiscal 2014,
      capital expenditures were $10.9 million; depreciation and amortization
      was $18.1 million. In fiscal 2015, the Company expects capital
      expenditures to be approximately $20 million to $25 million to support
      the refresh and repositioning of stores as well as investment in
      infrastructure. Depreciation and amortization is expected to be
      approximately $16 million to $18 million.
    </p>
    <p>
      <b>2015 Key Strategic Initiatives:</b>
    </p>
    <p>
      To increase shareholder value, the Company will begin to evolve from its
      stated goal of &#8220;sustained profitability&#8221; to &#8220;sustained profitable <i>growth</i>&#8221;.
      Through a combination of <i>continuous improvement</i> of current
      efforts and <i>strategic expansion</i> into additive opportunities for
      each of the key initiatives outlined below, the Company expects to
      deliver both incremental revenue and profit. The four key initiatives
      are:
    </p>
    <p>
      <u>Expanding into More Places</u>
    </p>
    <p style="margin-left: 30.0px">
      The Company intends to continuously improve its real estate model by
      strategically evolving its store portfolio to align with market trends
      while selectively opening new locations and systematically refreshing
      its store base. To this end, the Company plans to open additional stores
      in high potential destinations such as tourist locations, outlet malls
      and shop-in-shops, which have proven more productive than traditional
      mall stores.
    </p>
    <p style="margin-left: 30.0px">
      The Company expects to strategically expand its international presence
      by leveraging the improving strength in its company-owned stores to
      restructure and extend its international footprint. In 2014, the Company
      added a new franchisee in Turkey and restructured and expanded its
      franchise agreement in Germany with the addition of two countries,
      Switzerland and Austria. In 2015, the Company plans to enter new markets
      with both a redesigned franchise model and organic corporate expansion.
    </p>
    <p>
      <u>Targeting More People</u>
    </p>
    <p style="margin-left: 30.0px">
      The Company intends to continuously grow its business with its core
      three to twelve year-old consumer segment which represents a majority of
      current revenue. The Company will focus on initiatives that drive trial
      and increase repeat visits with an evolved segmentation, product
      development and marketing strategy.
    </p>
    <p style="margin-left: 30.0px">
      The Company expects to strategically grow sales to consumers over twelve
      years-old with a focus on key categories including gift-giving, affinity
      and collectibles. This consumer segment currently represents over 20% of
      sales and has a tendency to over-index on less price-sensitive
      &#8220;gift-able&#8221; and on-line purchases. Therefore, the Company intends to
      leverage its e-commerce business to efficiently target these consumers.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
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        </div>
      </div>
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        <div style="text-align: center">

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        </div>
      </div>
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        </div>
      </div>
    </div>
    <p>
      <u>Developing More Products</u>:
    </p>
    <p style="margin-left: 30.0px">
      The Company intends to continuously improve and extend its efforts to
      successfully develop high impact product stories coupled with integrated
      marketing programs that tend to garner higher price points, drive add-on
      purchases and create &#8220;play beyond the plush&#8221;.
    </p>
    <p style="margin-left: 30.0px">
      The Company also plans to strategically expand its presence and create
      new sales and profit streams by launching an out-bound licensing program
      to leverage its strong brand equity. Licensing will enable the Company
      to extend its brand reach with new offerings in relevant categories and
      will provide consumers with &#8220;products beyond the plush&#8221;.
    </p>
    <p>
      <u>Driving More Profitability</u>:
    </p>
    <p style="margin-left: 30.0px">
      The Company intends to continuously improve its value engineering
      initiatives to further optimize product margins while implementing new
      systems that facilitate sales growth, increase efficiency and improve
      long term profitability.
    </p>
    <p style="margin-left: 30.0px">
      The Company expects to strategically expand its profitability by
      prioritizing incremental growth initiatives, like those discussed above,
      that leverage existing infrastructure, are primarily royalty-based,
      and/or allow for discreet pricing and are therefore comparatively
      margin-accretive.
    </p>
    <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
      February 26, 2015. The telephone replay is available by calling
      (877)-870-5176. The access code is 13599885.
    </p>
    <p>
      <b>About Build-A-Bear Workshop, Inc.:</b>
    </p>
    <p>
      Founded in St. Louis in 1997, Build-A-Bear Workshop, Inc. is the only
      global company that offers an interactive make-your-own stuffed animal
      retail-entertainment experience. There are approximately 400
      Build-A-Bear Workshop stores worldwide, including company-owned stores
      in the U.S., Puerto Rico, Canada, the United Kingdom, Ireland and
      Denmark, and franchise stores in Europe, Asia, Australia, Africa, the
      Middle East, and Mexico. The Company was named to the FORTUNE 100 Best
      Companies to Work For&#174; list for the sixth year in a row in 2014.
      Build-A-Bear Workshop (NYSE: BBW) posted total revenue of $392.4 million
      in fiscal 2014. For more information, call 888.560.BEAR (2327) or visit
      the Investor Relations section of its Web site at buildabear.com&#174;.
    </p>
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        </div>
      </div>
    </div>
    <p>
      <b>Forward-Looking Statements:</b>
    </p>
    <p>
      This press release contains forward looking statements that involve
      risks and uncertainties and the Company&#8217;s 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 the Company&#8217;s annual report
      on Form 10-K for the year ended December 28, 2013, as filed with the
      SEC, and the following:
    </p>
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          &#160;
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          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          general global economic conditions may deteriorate, which could lead
          to disproportionately reduced consumer demand for our products,
          which represent relatively discretionary spending;
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          customer traffic may decrease in the shopping malls where we are
          located, on which we depend to attract guests to our stores;
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            &#8226;
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        </td>
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to generate interest in and demand for our
          interactive retail experience, or to identify and respond to
          consumer preferences in a timely fashion;
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      </tr>
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            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          our marketing and on-line initiatives may not be effective in
          generating sufficient levels of brand awareness and guest traffic;
        </td>
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            &#8226;
          </p>
        </td>
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to generate comparable store sales growth;
        </td>
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            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to effectively operate or manage the overall
          portfolio of our company-owned stores;
        </td>
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            &#8226;
          </p>
        </td>
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may not be able to operate our company-owned stores in the United
          Kingdom and Ireland profitably;
        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to renew or replace our store leases, or enter into
          leases for new stores on favorable terms or in favorable locations,
          or may violate the terms of our current leases;
        </td>
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            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          the availability and costs of our products could be adversely
          affected by risks associated with international manufacturing and
          trade, including foreign currency fluctuation;
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            &#8226;
          </p>
        </td>
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          our products could become subject to recalls or product liability
          claims that could adversely impact our financial performance and
          harm our reputation among consumers;
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            &#8226;
          </p>
        </td>
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        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may lose key personnel, be unable to hire qualified additional
          personnel, or experience turnover of our management team;
        </td>
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            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we are susceptible to disruption in our inventory flow due to our
          reliance on a few vendors;
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            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          high petroleum products prices could increase our inventory
          transportation costs and adversely affect our profitability;
        </td>
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            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to effectively manage our international franchises
          or laws relating to those franchises may change;
        </td>
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            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          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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        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may suffer negative publicity or be sued due to violations of
          labor laws or unethical practices by manufacturers of our
          merchandise;
        </td>
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        </td>
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        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          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;
        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          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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        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          our market share could be adversely affected by a significant, or
          increased, number of competitors;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may fail to renew, register or otherwise protect our trademarks
          or other intellectual property;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may have disputes with, or be sued by, third parties for
          infringement or misappropriation of their proprietary rights;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          fluctuations in our quarterly results of operations could cause the
          price of our common stock to substantially decline; and
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#8226;
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          we may be unable to repurchase shares of our common stock at the
          times or in the amounts we currently anticipate or the results of
          the share repurchase program may not be as beneficial as we
          currently anticipate.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

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

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

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

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

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

        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>14 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          129,973
        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          106,266
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          98.3
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          815
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,165
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Commercial revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          714
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          0.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          658
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          0.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 35.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Total revenues
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          131,502
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          108,089
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          62,410
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          47.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          58,901
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          55.1
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          56,383
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          42.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          44,253
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          40.9
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          89
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          (93
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          (0.1
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 40.0px; text-align: left" valign="top">
          Total costs and expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          118,882
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          90.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          103,061
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          95.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          12,620
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          9.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5,028
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Income tax expense (benefit)
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          0.6
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          (0.4
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 40.0px; text-align: left" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          11,820
        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          9.0
        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          5,446
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5.0
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.68
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.31
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.67
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.31
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,932,393
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,637,548
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          17,206,636
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,802,775
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(1)</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Selected statement of operations data expressed as a percentage of
          total revenues, except cost of merchandise sold which is expressed
          as a percentage of net retail sales and commercial revenue.
          Percentages will not total due to cost of merchandise sold being
          expressed as a percentage of net retail sales and commercial revenue
          and immaterial rounding.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

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

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

        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <b>53 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>52 Weeks</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap" valign="top">
          <b>December 28,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          387,725
        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          373,173
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          98.4
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          2,531
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3,564
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Commercial revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          2,098
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          0.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          2,332
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          0.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 35.0px; text-align: left" valign="top">
          Total revenues
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          392,354
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          379,069
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          211,832
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          54.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          220,738
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          58.8
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          164,445
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          160,708
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          42.4
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          53
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          (259
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          376,330
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          95.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          381,187
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          100.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 35.0px; text-align: left" valign="top">
          Income (loss) before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,024
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2,118
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (0.6
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Income tax expense (benefit)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          1,662
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          0.4
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          0.0
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 35.0px; text-align: left" valign="top">
          Net income (loss)
        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          14,362
        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3.7
        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          (2,112
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (0.6
        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income (loss) per common share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.82
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          (0.13
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.81
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          (0.13
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,908,001
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,465,138
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          17,133,811
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,465,138
        </td>
        <td>

        </td>
        <td>

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

        </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 colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="top">
          <b>(1)</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Selected statement of operations data expressed as a percentage of
          total revenues, except cost of merchandise sold which is expressed
          as a percentage of net retail sales and commercial revenue.
          Percentages will not total due to cost of merchandise sold being
          expressed as a percentage of net retail sales and commercial revenue
          and immaterial rounding.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          65,389
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          44,665
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          51,939
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          50,248
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          11,461
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          14,542
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          15,611
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          11,547
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          1,378
        </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-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          81
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 45.0px; text-align: left" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          145,778
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          121,083
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          62,766
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          70,163
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          3,206
        </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-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          3,847
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Total Assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          212,054
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          195,611
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 100.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>LIABILITIES AND STOCKHOLDERS' EQUITY</b>
          </p>
        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          38,107
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          34,977
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          24,058
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,380
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          34,268
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          33,786
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          2,654
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,687
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" 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-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          900
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 45.0px; text-align: left" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          99,087
        </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-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          90,730
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Deferred franchise revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          945
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          905
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          13,353
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          19,357
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,044
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          229
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Stockholders' equity:
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          69,362
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          69,094
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (7,303
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          36,787
        </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-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          22,425
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 45.0px; text-align: left" valign="top">
          Total stockholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          97,625
        </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-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          84,390
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Total Liabilities and Stockholders' Equity
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          212,054
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          195,611
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="24">

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

        </td>
      </tr>
      <tr>
        <td colspan="24" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="24" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Unaudited Selected Financial and Store Data</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="24" style="padding-left: 0.0px; text-align: center" valign="top">
          (dollars in thousands, except for per square foot data)
        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>14 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>53 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>52 Weeks</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2015</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Other financial data:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          67,871
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          47,680
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          176,838
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          153,477
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          52.2
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          44.9
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          45.6
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          41.1
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          7,110
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          6,359
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          15,062
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          14,256
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,670
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          10,890
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          19,362
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,743
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,817
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          18,128
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          19,216
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="4" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Store data <sup>(3)</sup>:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          245
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          20
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          10
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          265
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          324
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          86
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          688,633
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          716,098
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          37,309
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          19,507
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          725,942
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          735,605
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          82,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          84,933
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          1,926
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          1,926
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          84,789
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          86,859
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          810,731
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          822,464
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Net retail sales per gross square foot - North America<sup> (5)</sup>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          409
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          381
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Net retail sales per selling square foot - Europe<sup> (6)</sup>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          &#163;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          567
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="top">
          &#163;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          525
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Comparable store sales change <sup>(7)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          8.5
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2.8
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1.4
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5.7
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          14.0
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          2.3
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          2.9
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          9.9
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2.2
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1.6
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5.1
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net retail sales per gross square foot represents net retail sales
          from stores open throughout the entire period divided by the total
          gross square footage of such stores in North America. Calculated on
          an annual basis only.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net retail sales per selling square foot for Europe represents net
          retail sales in local currency from stores open throughout the
          entire period in Europe divided by the total selling square footage
          of such stores. Calculated on an annual basis only.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          * Non-GAAP Financial Measures
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" 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>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td colspan="2">
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="30" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="30" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Reconciliation of Net Income (Loss) to Adjusted Net Income</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="30" style="padding-left: 0.0px; text-align: center" valign="top">
          (dollars in thousands, except per share data)
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>14 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>53 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>52 Weeks</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2013</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="8" style="padding-left: 0.0px; text-align: left" valign="top">
          Net income (loss)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          11,820
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5,446
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td>
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          14,362
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2,112
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="8" style="padding-left: 0.0px; text-align: left" valign="top">
          Management transition costs <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          724
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,886
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3,194
        </td>
        <td>

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

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: left" valign="top">
          Other asset impairment <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: left" valign="top">
          Store closing costs<sup> (3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,567
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="8" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Adjusted net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          12,813
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          6,892
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          16,518
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          2,937
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>14 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>53 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>52 Weeks</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 28,</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2013</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          Net income (loss) per diluted share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          0.67
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          0.31
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          0.81
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (0.13
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="8" style="padding-left: 0.0px; text-align: left" valign="top">
          Management transition costs <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          0.19
        </td>
        <td>

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

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: left" valign="top">
          Other asset impairment <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: left" valign="top">
          Store closing costs<sup> (3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          0.09
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Adjusted net income per diluted share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.73
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.40
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.93
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          0.17
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9">

        </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>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Represents transition costs related to changes in executive
          management. Costs include severance, along with benefits and related
          taxes, executive search fees, signing bonus and professional fees.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="top">
          (2)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Represents a non-cash charge to impair trade credits.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="top">
          (3)
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td colspan="20">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="20" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="20" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Company-Owned Store Activity</b>
        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="15" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Fifty-three Weeks Ended January 3, 2015</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Opened</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Closed</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          <b>2015</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          245
        </td>
        <td>

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

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          10
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          20
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          265
        </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 colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="top">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          16
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          (15
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="15" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Fifty-two Weeks Ended December 28, 2013</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Opened</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Closed</b>
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: solid black 1.0pt; white-space: nowrap" valign="bottom">
          10
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          263
        </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 colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="top">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          (38
        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; border-bottom: double black 2.25pt; white-space: nowrap" valign="bottom">
          323
        </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 colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="15" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Fifty-two Weeks Ended December 29, 2012</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Opened</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          <b>Closed</b>
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; 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 colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Non-traditional
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 20.0px; text-align: left" valign="top">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </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>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Build-A-Bear Workshop<br>Investors: Voin Todorovic,
      314.423.8000 x5221<br>Media: Tanya Coventry-Strader, 314.423.8000 x5293
    </p>
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</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
