<SEC-DOCUMENT>0001157523-15-003540.txt : 20151029
<SEC-HEADER>0001157523-15-003540.hdr.sgml : 20151029
<ACCEPTANCE-DATETIME>20151029073100
ACCESSION NUMBER:		0001157523-15-003540
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151029
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151029
DATE AS OF CHANGE:		20151029

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:			0102

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32320
		FILM NUMBER:		151181780

	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>a51212247.htm
<DESCRIPTION>BUILD-A-BEAR WORKSHOP, INC. 8-K
<TEXT>
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      <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-family: Times New Roman; font-size: 12pt"></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">October
      29, 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 cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
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        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>&#160;&#160;&#160;&#160;&#160;Delaware&#160;&#160;&#160;&#160;&#160;</u>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>&#160;&#160;&#160;&#160;&#160;001-32320&#160;&#160;&#160;&#160;&#160;</u>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>&#160;&#160;&#160;&#160;&#160;43-1883836&#160;&#160;&#160;&#160;&#160;</u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Incorporation)
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            File Number)
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
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          &#160;
        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; width: 40%; border-bottom-color: black">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1954 Innerbelt Business Center Drive<br>St. Louis, Missouri
          </p>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px; width: 26%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 15%; border-bottom-color: black">
          <p style="margin-top: 0px; margin-bottom: 0px">
            63114
          </p>
        </td>
        <td valign="bottom" style="padding-bottom: 2.0px; text-align: center; padding-left: 0.0px; width: 9%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 10%">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 40%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of Principal Executive Offices)</font>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 26%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 15%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Zip
            Code)</font>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 9%">
          <p style="margin-top: 0px; margin-bottom: 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="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

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

    </p>
    <p style="white-space: nowrap">
      <u>Item 2.02.&#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 October 29, 2015, Build-A-Bear Workshop, Inc. (the &#8220;Company&#8221;) issued
      a press release setting forth results for the 2015 third quarter and
      thirty-nine weeks ended October 3, 2015. &#160;A copy of the Company&#8217;s press
      release is being furnished as Exhibit 99.1 and hereby incorporated by
      reference.
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      The information furnished in, contained, or incorporated by reference
      into this Item 2.02, including Exhibit 99.1 attached hereto, is being
      furnished and shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of
      the Securities and Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) or
      otherwise subject to the liabilities of that section, nor shall it be
      deemed incorporated by reference in any filing under the Securities Act
      of 1933, as amended, or the Exchange Act, regardless of any general
      incorporation language in such filing.&#160;&#160;In addition, this report
      (including Exhibit 99.1) shall not be deemed an admission as to the
      materiality of any information contained herein that is required to be
      disclosed solely as a requirement of this Item.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt">
      <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="white-space: nowrap">
      <u>Item 9.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</u>.
    </p>
    <p style="white-space: nowrap">
      (d)&#160;&#160;Exhibits
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 20%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit Number</u>
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 80%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description of Exhibit</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 20%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 80%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 20%">
          99.1
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 80%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release dated October 29, 2015
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>
      <br>
      <br>

    </p>
    <p>

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

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

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            BUILD-A-BEAR WORKSHOP, INC.
          </p>
        </td>
        <td style="width: 8%">

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

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

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

        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 8%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 8%">

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

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 8%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 5%">
          Date:
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            October 29, 2015
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; width: 6%">
          By:
        </td>
        <td valign="top" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; width: 36%; border-bottom-color: black">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Voin Todorovic
          </p>
        </td>
        <td style="width: 8%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Name:
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 36%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Voin Todorovic
          </p>
        </td>
        <td style="width: 8%">

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

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Title:
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 36%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
          </p>
        </td>
        <td style="width: 8%">

        </td>
      </tr>
    </table>
    </div>
    <p>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 80%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 20%">
          99.1
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 80%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release dated October 29, 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>a51212247ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <head>
    <title></title>
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<!--All rights reserved www.businesswire.com-->
  </head>
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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 a 2.1% Consolidated Comparable Store Sales
      Increase with Third Quarter Fiscal 2015 Results</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Third
        quarter consolidated comparable store sales increase 2.1%</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Retail
        gross margin expands 160 basis points to 45.3% from 43.7% in the 2014
        third quarter</b></font></i>
      </li>
      <li style="margin-bottom: 10.0px">
        <i><font style="font-size: 12pt; font-family: Times New Roman"><b>First
        nine months pre-tax income rises by $4.6 million to $8.0 million</b></font></i>
      </li>
    </ul>
    <p>
      ST. LOUIS--(BUSINESS WIRE)--October 29, 2015--Build-A-Bear Workshop,
      Inc. (NYSE:BBW) today reported results for the 2015 third quarter and
      thirty-nine weeks ended October 3, 2015.
    </p>
    <p>
      <b>Third Quarter Fiscal 2015 Highlights (13 weeks ended October 3, 2015,
      compared to the 13 weeks ended September 27, 2014):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable store sales increased 2.1% and included a 0.2%
        increase in North America and an 8.9% increase in Europe. Third
        quarter 2015 comparable store sales are compared to the thirteen-week
        period ended October 4, 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin expanded 160 basis points to 45.3% from 43.7% in
        the 2014 third quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Pre-tax income was $1.4 million, a $690,000 decline from the 2014
        third quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $1.1 million, or $0.06 per diluted share compared to
        net income of $1.8 million, or $0.10 per diluted share in the 2014
        third quarter; and
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted net income was $1.7 million or $0.10 per diluted share
        compared to adjusted net income of $3.4 million, or $0.19 per diluted
        share, in the 2014 third quarter. (See Reconciliation of Net Income to
        Adjusted Net Income.)
      </li>
    </ul>
    <p>
      Sharon Price John, Build-A-Bear Workshop&#8217;s Chief Executive Officer
      commented: &#8220;In the quarter, we had comparable store sales increases
      across geographies marking our fifth consecutive quarter of consolidated
      comparable store sales growth. For the first nine months of 2015, we
      have delivered $8.0 million in pre-tax profit, the highest level since
      2007. This puts us in a solid position as we enter the fourth quarter,
      which is typically our largest and most profitable period of the year.
    </p>
    <p>
      &#8220;We believe we have a balanced product portfolio planned for the fourth
      quarter designed to reach all of our key consumer segments.
      Additionally, we remain focused on executing our long range strategies,
      which we believe will deliver sustained profitable growth and increased
      value for our shareholders,&#8221; concluded Ms. John.
    </p>
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    </div>
    <p>
      <b>Additional Third Quarter Fiscal 2015 Highlights (13 weeks ended
      October 3, 2015, compared to the 13 weeks ended September 27, 2014):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $85.6 million compared to $86.7 million in the
        2014 third quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $84.3 million compared to $85.6
        million in the 2014 third quarter, as increased comparable store sales
        and sales from new stores were offset by the negative impact of
        foreign exchange, the one-week calendar shift due to the 53<sup>rd</sup>
        week in fiscal 2014, temporary store closures due to remodels and
        permanent store closures. Excluding the impact of foreign exchange,
        consolidated net retail sales rose 0.8% versus the third quarter last
        year;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated e-commerce sales rose 4.1% excluding the impact of
        foreign exchange; and
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, general and administrative expense (&#8220;SG&amp;A&#8221;) totaled $37.6
        million, or 44.0% of total revenues, an increase of $1.4 million
        compared to the 2014 third quarter. The majority of the increase in
        SG&amp;A reflects investments in marketing, personnel and store activity
        to advance the Company&#8217;s long term strategy.
      </li>
    </ul>
    <p>
      <b>First Nine Months Fiscal 2015 Highlights (39 weeks ended October 3,
      2015, compared to the 39 weeks ended September 27, 2014):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $260.0 million compared to $260.9 million in the
        first nine months of 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $256.2 million, compared to $257.8
        million in the first nine months of 2014, as improved comparable
        stores sales were offset by the one-week calendar shift due to the 53<sup>rd</sup>
        week in fiscal 2014 and the negative impact of foreign exchange.
        Excluding the impact of foreign exchange, net retail sales increased
        1.5% compared to the first nine months of 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable store sales increased 4.0% and included a 1.9%
        increase in North America and a 13.1% increase in Europe. Comparable
        store sales for the first nine months of 2015 are compared to the
        thirty-nine week period ended October 4, 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated e-commerce sales rose 7.9%, excluding the impact of
        foreign exchange;
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin expanded 300 basis points to 45.3% from 42.3% in
        the first nine months of 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        SG&amp;A was $110.8 million, or 42.6% of total revenues, an increase of
        $2.8 million compared to the first nine months of 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        Pre-tax income was $8.0 million, an improvement of $4.6 million
        compared to the first nine months of 2014;
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $7.3 million or $0.42 per diluted share, an improvement
        of $4.7 million compared to the first nine months of 2014; and
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted net income was $8.9 million or $0.51 per diluted share, an
        improvement from $4.4 million, or $0.25 per diluted share in the first
        nine months of 2014. (See Reconciliation of Net Income to Adjusted Net
        Income.)
      </li>
    </ul>
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    </div>
    <p>
      <b>Store Activity</b>
    </p>
    <p>
      The Company ended the period with 317 company-owned stores, including
      257 in North America and 60 in Europe. This reflects four store closures
      and six store openings in the quarter, including five true outlet
      concept locations and one new format specialty store. The Company also
      remodeled six stores in its new specialty retail format. The Company&#8217;s
      international franchisees ended the 2015 third quarter with 67 stores in
      11 countries.
    </p>
    <p>
      <b>Balance Sheet</b>
    </p>
    <p>
      The Company ended the 2015 third quarter with cash and cash equivalents
      totaling $37.1 million and no borrowings under its revolving credit
      facility. Total inventory at quarter end was $55.6 million, compared to
      $45.7 million in the fiscal 2014 third quarter. This $9.9 million
      increase was driven by a stronger inventory position on key product
      stories and the timing of purchases to support fourth quarter product
      launches, as well as additional store openings during the Holiday
      season. This follows an $11.0 million decrease at the end of last year&#8217;s
      third quarter with inventory declining 1.9% on a two-year basis.
    </p>
    <p>
      In 2015, the Company continues to expect capital expenditures to be
      between $20 million and $25 million to support the remodeling and
      opening of stores, as well as investment in infrastructure. Depreciation
      and amortization is expected to be between $16 million and $17 million.
    </p>
    <p>
      <b>Share Repurchase Activity</b>
    </p>
    <p>
      During the third quarter the Company repurchased approximately 106,000
      shares of its common stock for an aggregate amount of $1.9 million,
      leaving approximately $8.9 million available under the current share
      repurchase program.
    </p>
    <p>
      <b>2015 Key Strategic Objectives</b>
    </p>
    <p>
      To increase shareholder value, the Company expects to continue to
      execute its &#8220;MORE x 4&#8221; strategic plan which includes continuous
      improvement and strategic expansion initiatives in four areas with the
      progress outlined below:
    </p>
    <p>
      <u>Expanding into More Places</u>
    </p>
    <p>
      The Company intends to continue to evolve its real estate portfolio to
      align with market trends while selectively opening new locations and
      systematically remodeling its store base. To this end, in the third
      quarter, the Company opened one new store and remodeled six stores in
      its new design, which was developed to increase productivity and update
      the brand look. The Company also advanced its strategy to add
      non-traditional stores with the opening of five true outlet stores, as
      well as the expansion of its ongoing partnership with Macy&#8217;s in which it
      expects to open seven shop-in-shops for the holiday season.
    </p>
    <p>
      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 the third
      quarter, a Build-A-Bear Workshop location was opened on Li &amp; Fung&#8217;s
      Shanghai campus in the Explorium, a retail laboratory and exhibition
      operated by the Fung Group, a Hong Kong-based multinational with
      international brands and retail operations across China.
    </p>
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        </div>
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    </div>
    <p>
      <u>Targeting More People</u>
    </p>
    <p>
      The Company intends to have continuous growth in its business with the
      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. In the quarter, the Company
      successfully reached its older girl segment with the launch of its new
      proprietary Honey Girls collection, expanded its offering to boys with
      the initial launch of Star Wars product, and continued to sell Minions,
      which appealed across all consumer segments.
    </p>
    <p>
      The Company expects to 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 more than 20%
      of sales and has a tendency to over-index on less price-sensitive
      &#8220;gift-able&#8221; and online purchases. Therefore, the Company intends to
      leverage its e-commerce business to efficiently target these consumers.
      In the quarter, the Company introduced Build-A-Bear Workshop&#8217;s Sports
      Central concept on line and in stores to leverage its powerful licensing
      relationships which span most major sports leagues and include many
      major universities.
    </p>
    <p>
      <u>Developing More Products</u>
    </p>
    <p>
      The Company intends to make continuous improvements to its products by
      developing high impact 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; In conjunction with the successful
      launch of its proprietary Honey Girls collection, the Company introduced
      music videos. Since the collection&#8217;s introduction, there have been more
      than 2.5 million views of both Build-A-Bear and user generated videos
      about the Honey Girls on YouTube.
    </p>
    <p>
      The Company also plans to continue to expand its presence and create new
      revenue and profit streams by launching wholesale and out-bound
      licensing programs to leverage its strong brand equity. These programs
      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; To this end, the Company announced that Costco Wholesale
      Corporation is offering Build-A-Bear branded, pre-packaged gift sets
      during the holiday season. In addition, the Company announced an
      agreement with Spin Master, Inc. to distribute a complementary toy line
      that is expected to launch in the fall of 2016.
    </p>
    <p>
      <u>Driving More Profitability</u>
    </p>
    <p>
      The Company intends to make continuing improvements in its value
      engineering initiatives to further enhance product margins while
      implementing new systems that should facilitate sales growth, increase
      efficiency and improve long term profitability. In the quarter, the
      Company expanded retail gross margin by 160 basis points to 45.3%. The
      Company also delivered pre-tax income of $8.0 million for the first nine
      months of fiscal 2015, an increase of $4.6 million over the prior year.
    </p>
    <p>
      The Company expects to continue to expand its profitability by
      prioritizing incremental growth initiatives, like those discussed above,
      that leverage existing infrastructure, are primarily royalty-based,
      and/or allow for discrete pricing and are, therefore comparatively
      margin-accretive.
    </p>
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    </div>
    <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 12 p.m. ET on October 29, 2015,
      until 12 a.m. ET on November 5, 2015. The telephone replay is available
      by calling 877-870-5176. The access code is 13622377.
    </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 list for the seventh year in a row in 2015.
      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.
    </p>
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    </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 January 3, 2015, as filed with the SEC,
      and the following:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        general global economic conditions may deteriorate, which could lead
        to disproportionately reduced consumer demand for our products, which
        represent relatively discretionary spending;
      </li>
      <li style="margin-bottom: 10.0px">
        customer traffic may decrease in the shopping malls where we are
        located, on which we depend to attract guests to our stores;
      </li>
      <li style="margin-bottom: 10.0px">
        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;
      </li>
      <li style="margin-bottom: 10.0px">
        our marketing and on-line initiatives may not be effective in
        generating sufficient levels of brand awareness and guest traffic;
      </li>
      <li style="margin-bottom: 10.0px">
        we may improperly obtain or be unable to adequately protect customer
        information in violation of privacy or security laws or customer
        expectations;
      </li>
      <li style="margin-bottom: 10.0px">
        we may be unable to generate comparable store sales growth;
      </li>
      <li style="margin-bottom: 10.0px">
        we may be unable to effectively operate or manage the overall
        portfolio of our company-owned stores;
      </li>
      <li style="margin-bottom: 10.0px">
        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;
      </li>
      <li style="margin-bottom: 10.0px">
        we may not be able to operate our international company-owned
        profitably;
      </li>
      <li style="margin-bottom: 10.0px">
        the availability and costs of our products could be adversely affected
        by risks associated with international manufacturing and trade,
        including foreign currency fluctuation;
      </li>
      <li style="margin-bottom: 10.0px">
        our products could become subject to recalls or product liability
        claims that could adversely impact our financial performance and harm
        our reputation among consumers;
      </li>
      <li style="margin-bottom: 10.0px">
        we may lose key personnel, be unable to hire qualified additional
        personnel, or experience turnover of our management team;
      </li>
      <li style="margin-bottom: 10.0px">
        we are susceptible to disruption in our inventory flow due to our
        reliance on a few vendors;
      </li>
      <li style="margin-bottom: 10.0px">
        we may be unable to effectively manage our international franchises or
        laws relating to those franchises may change;
      </li>
      <li style="margin-bottom: 10.0px">
        we may fail to renew, register or otherwise protect our trademarks or
        other intellectual property;
      </li>
      <li style="margin-bottom: 10.0px">
        we are subject to risks associated with technology and digital
        operations;
      </li>
      <li style="margin-bottom: 10.0px">
        we may suffer negative publicity or be sued due to violations of labor
        laws or unethical practices by manufacturers of our merchandise;
      </li>
      <li style="margin-bottom: 10.0px">
        we may be unable to operate our company-owned distribution center
        efficiently or our third-party distribution center providers may
        perform poorly;
      </li>
      <li style="margin-bottom: 10.0px">
        high petroleum products prices could increase our inventory
        transportation costs and adversely affect our profitability;
      </li>
      <li style="margin-bottom: 10.0px">
        our plans to leverage the Build-A-Bear brand to drive strategic
        expansion may not be successful;
      </li>
      <li style="margin-bottom: 10.0px">
        our market share could be adversely affected by a significant, or
        increased, number of competitors;
      </li>
      <li style="margin-bottom: 10.0px">
        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;
      </li>
      <li style="margin-bottom: 10.0px">
        poor global economic conditions could have a material adverse effect
        on our liquidity and capital resources;
      </li>
      <li style="margin-bottom: 10.0px">
        fluctuations in our quarterly results of operations could cause the
        price of our common stock to substantially decline; and
      </li>
      <li style="margin-bottom: 10.0px">
        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.
      </li>
    </ul>
    <p>
      All other brand names, product names, or trademarks belong to their
      respective holders.
    </p>
    <p style="text-align: center">
      (Financial Tables Follow)
    </p>
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      <tr>
        <td valign="top" colspan="21" style="text-align: center; padding-left: 0.0px">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="21" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Condensed Consolidated Income Statements</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="21" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
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        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
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        </td>
        <td>

        </td>
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        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
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        </td>
        <td>

        </td>
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        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Revenues <sup>(1)</sup></b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Revenues<sup> (1)</sup></b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="4" style="text-align: left; padding-left: 0.0px">
          Revenues:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="top" colspan="6" style="text-align: left; padding-left: 0.0px">
          Net retail sales
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          84,303
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          85,561
        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          558
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          795
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          542
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          85,623
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          86,661
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          100.0
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Costs and expenses:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td valign="top" colspan="6" style="text-align: left; padding-left: 0.0px">
          Cost of merchandise sold - retail <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          46,117
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          54.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          48,146
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          56.3
        </td>
        <td>

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

        </td>
        <td valign="top" colspan="6" style="text-align: left; padding-left: 0.0px">
          Cost of merchandise sold - commercial <sup>(1)</sup>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          69.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          278
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          51.3
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          37,643
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          44.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          36,217
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          41.8
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          (56
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          )
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          (38
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          )
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          84,255
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          98.4
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          84,603
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          97.6
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,368
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2,058
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Income tax expense
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          301
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.4
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          238
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.3
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="4" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          Net income
        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          1,067
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          1,820
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2.1
        </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">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Income per common share:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.06
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.10
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.06
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.10
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Shares used in computing common per share amounts:
        </td>
        <td colspan="7">

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          16,670,358
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          16,971,416
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          16,890,722
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          17,132,206
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (1)
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Selected statement of operations data expressed as a percentage of
          total revenues, except cost of merchandise sold - retail and cost of
          merchandise sold - commercial that are expressed as a percentage of
          net retail sales and commercial revenue, respectively. 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>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" colspan="23" style="text-align: center; padding-left: 0.0px">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Condensed Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>39 Weeks</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>39 Weeks</b>
        </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 valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>Ended</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="top" colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Revenues <sup>(1)</sup></b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="top" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-left: 0.0px; border-bottom-color: black">
          <b>Revenues<sup> (1)</sup></b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="4" style="text-align: left; padding-left: 0.0px">
          Revenues:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="top" colspan="6" style="text-align: left; padding-left: 0.0px">
          Net retail sales
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          256,246
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          257,752
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,624
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,716
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          2,159
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.8
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          1,384
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.5
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          260,029
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          260,852
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          100.0
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Costs and expenses:
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="top" colspan="6" style="text-align: left; padding-left: 0.0px">
          Cost of merchandise sold - retail <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          140,288
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          54.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          148,785
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          57.7
        </td>
        <td>

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

        </td>
        <td valign="top" colspan="6" style="text-align: left; padding-left: 0.0px">
          Cost of merchandise sold - commercial <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,093
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          50.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          46.0
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          110,815
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          42.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          108,062
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          41.4
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          (148
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          (36
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          252,048
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          96.9
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          257,448
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          98.7
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          7,981
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          3.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          3,404
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Income tax expense
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          721
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.3
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          862
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.3
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="4" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          Net income
        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          7,260
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          2,542
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1.0
        </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>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Income per common share:
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.42
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.15
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.42
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-bottom: 4.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.14
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Shares used in computing common per share amounts:
        </td>
        <td colspan="8">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          16,834,968
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          16,899,245
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          17,071,591
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          17,108,910
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (1)
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Selected statement of operations data expressed as a percentage of
          total revenues, except cost of merchandise sold - retail and cost of
          merchandise sold - commercial that are expressed as a percentage of
          net retail sales and commercial revenue, respectively. 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>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" colspan="17" style="text-align: center; padding-left: 0.0px">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="17" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="17" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except per share data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="4" style="text-align: center; padding-left: 0.0px">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          37,146
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          40,451
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          55,591
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          45,712
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          8,053
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          10,144
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          16,651
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          12,188
        </td>
        <td>

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

        </td>
        <td valign="top" colspan="4" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Deferred tax assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          1,669
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          1,378
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          998
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          119,110
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          109,493
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="text-align: left; padding-left: 5.0px">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          60,090
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          61,031
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="text-align: left; padding-left: 5.0px">
          Other intangible assets, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,211
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          365
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Other assets, net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          2,893
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          3,976
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="padding-bottom: 4.0px; text-align: left; padding-left: 5.0px">
          Total Assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          183,304
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          174,865
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="text-align: left; padding-left: 30.0px">
          <b>LIABILITIES AND STOCKHOLDERS' EQUITY</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          29,927
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          28,369
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          14,197
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          13,145
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          28,048
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          25,869
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2,635
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          4,173
        </td>
        <td>

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

        </td>
        <td valign="top" colspan="4" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Deferred tax liability
        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          856
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          74,807
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          72,412
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="text-align: left; padding-left: 5.0px">
          Deferred franchise revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          782
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,004
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          12,327
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          13,716
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,111
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,367
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="text-align: left; padding-left: 5.0px">
          Stockholders' equity:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          59,333
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          68,749
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (9,272
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (7,524
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" colspan="4" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          44,047
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          36,787
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          24,967
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-bottom: 2.0px; text-align: left; padding-left: 5.0px">
          Total stockholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          94,277
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          97,625
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          86,366
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="padding-bottom: 4.0px; text-align: left; padding-left: 5.0px">
          Total Liabilities and Stockholders' Equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          183,304
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          174,865
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" colspan="23" style="text-align: center; padding-left: 0.0px">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Selected Financial and Store Data</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="23" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>39 Weeks</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>39 Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <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>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="3" style="text-align: left; padding-left: 0.0px">
          <b>Other financial data:</b>
        </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>

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

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          38,186
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          37,415
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          115,958
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          108,967
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          45.3
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          45.3
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          42.3
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2,801
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2,648
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          8,461
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          7,952
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          6,785
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2,511
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          12,864
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          5,681
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          4,029
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          4,422
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          12,262
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          13,385
        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="3" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Store data<sup> (3)</sup>:</b>
          </p>
        </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>

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

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

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

        </td>
        <td colspan="5">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          North America
        </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 valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          257
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          254
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px">
          Europe
        </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 valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          60
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px">
          Total company-owned retail locations
        </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 valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          317
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          313
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <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>

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

        </td>
        <td valign="top" colspan="2" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          Number of franchised stores at end of period
        </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 valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          67
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          70
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <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>

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

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          Company-owned store square footage at end of period<sup> (4)</sup>
        </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>

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

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

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          North America
        </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 valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          700,685
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          707,677
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px">
          Europe
        </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 valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          85,925
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="top" style="padding-bottom: 4.0px; text-align: left; padding-left: 15.0px">
          Total square footage
        </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 valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          786,610
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          792,466
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <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>

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          0.2
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1.9
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          8.9
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          13.1
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          (3.6
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          )%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2.1
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          0.8
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (2.0
        </td>
        <td valign="bottom" style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          )%
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (1)
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          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 valign="top" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (2)
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Excludes our webstores. North American stores are located in the
          United States, Canada and Puerto Rico. In Europe, stores are located
          in the United Kingdom and Ireland and, beginning in 2015, Denmark.
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (4)
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Comparable store sales percentage changes are based on net retail
          sales and exclude the impact of foreign exchange. Stores are
          considered comparable beginning in their thirteenth full month of
          operation. Comparable store sales percentage changes for 2015 are
          based on net retail sales as compared to the thirteen and
          thirty-nine-week periods ended October 4, 2014.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          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 income and income per diluted share
          adjusted to exclude certain costs and accounting adjustments, which
          are non-GAAP financial measures. These results are included as a
          complement to results provided in accordance with GAAP because
          management believes these non-GAAP financial measures help identify
          underlying trends in the Company&#8217;s business and provide useful
          information to both management and investors by excluding certain
          items that may not be indicative of the Company&#8217;s core operating
          results. These measures should not be considered a substitute for or
          superior to GAAP results.
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" colspan="20" style="text-align: center; padding-left: 0.0px">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="20" style="text-align: center; padding-left: 0.0px">
          <b>Reconciliation of Net Income to Adjusted Net Income</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="20" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>39 Weeks</b>
        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>39 Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>October 3,</b>
        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,067
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,820
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          7,260
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          2,542
        </td>
      </tr>
      <tr>
        <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 colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Foreign exchange losses <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          888
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          1,109
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="7" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Management transition costs<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          181
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          688
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          553
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          1,089
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          Adjusted net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          1,734
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          3,396
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          8,922
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          4,355
        </td>
      </tr>
      <tr>
        <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 colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>39 Weeks</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>39 Weeks</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>October 3,</b>
        </td>
        <td valign="top" colspan="2" style="text-align: center; padding-left: 0.0px">
          <b>September 27,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="8" style="text-align: left; padding-left: 0.0px">
          Net income per diluted share
        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          0.42
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          0.14
        </td>
      </tr>
      <tr>
        <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 colspan="2">

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="7" style="text-align: left; padding-left: 0.0px">
          Foreign exchange losses <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="7" style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Management transition costs<sup>(2)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.01
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.04
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.03
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.07
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="8" style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px">
          Adjusted net income per diluted share
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.10
        </td>
        <td>

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

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.51
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; border-bottom-color: black">
          0.25
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td valign="top" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (1)
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Represents the impact of foreign exchange rates on the
          re-measurement of balance sheet items not denominated in functional
          currency. Amounts are presented net of applicable income tax.
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px">
          (2)
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Represents transition costs related to changes in executive
          management. Costs include severance, along with benefits and related
          taxes, relocation, executive search fees, signing bonus and
          professional fees. Amounts are presented net of applicable income
          tax.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Investors:<br>Build-A-Bear Workshop<br>Voin Todorovic
      314.423.8000 x5221
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
