<SEC-DOCUMENT>0001157523-17-002809.txt : 20171026
<SEC-HEADER>0001157523-17-002809.hdr.sgml : 20171026
<ACCEPTANCE-DATETIME>20171026073052
ACCESSION NUMBER:		0001157523-17-002809
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171026
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171026
DATE AS OF CHANGE:		20171026

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:		171154749

	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>a51705581.htm
<DESCRIPTION>BUILD-A-BEAR WORKSHOP, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2017 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 12pt">UNITED STATES</font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font><br><font style="font-family: Times New Roman; font-size: 12pt">WASHINGTON,
      DC 20549</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">FORM
      8-K</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">CURRENT
      REPORT</font><br><font style="font-family: Times New Roman; font-size: 12pt">Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</font><br><br><font style="font-family: Times New Roman; font-size: 12pt">Date
      of Report (Date of earliest event reported):</font><font style="font-family: Times New Roman; font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 12pt">October
      26, 2017</font><br><br>
    </p>
    <p style="text-align: center">
      <u><font style="font-size: 12pt">&#160;&#160;&#160;&#160;&#160;Build-A-Bear Workshop, Inc.&#160;&#160;&#160;&#160;</font></u><br><font style="font-family: Times New Roman; font-size: 12pt">(Exact
      Name of Registrant as Specified in Its Charter)</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><br>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <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; white-space: nowrap; padding-left: 0.0px; width: 34%; padding-right: 0.0px">
          <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; white-space: nowrap; padding-left: 0.0px; width: 33%; padding-right: 0.0px">
          <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 Jurisdiction
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            of 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 style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 10%">
          &#160;
        </td>
        <td valign="top" style="border-bottom-width: 1.0pt; text-align: center; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; width: 40%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1954 Innerbelt Business Center Drive<br>St. Louis, Missouri
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px; width: 26%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; width: 15%; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            63114
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px; 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-family: Times New Roman; font-size: 10pt">(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-family: Times New Roman; font-size: 10pt">(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-family: Times New Roman; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(314)
      423-8000&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></u><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-size: 10pt">(Registrant&#8217;s
      Telephone Number, Including Area Code)</font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions </font>(<i>see </i>General Instruction A.2.
      below):
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font><font style="font-size: 10pt">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p>
      Emerging growth company&#160;&#160;&#160;<font style="font-family: Arial Unicode MS; font-size: 9pt">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. &#160;<font style="font-size: 9pt">&#160;</font><font style="font-family: Arial Unicode MS; font-size: 9pt">&#8414;</font>
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

        </div>
        <div style="text-align: center">
          <hr style="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;Results of Operations and Financial Condition</u>.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      On October 26, 2017, Build-A-Bear Workshop, Inc. (the &#8220;Company&#8221;) issued
      a press release setting forth results for the Company&#8217;s 2017 fiscal
      third quarter and thirty-nine weeks ended September&#160;30, 2017. &#160;A copy of
      the Company&#8217;s press release is being furnished as Exhibit 99.1 and
      hereby incorporated by reference.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">
      The information furnished in, contained, or incorporated by reference
      into this Item 2.02, including Exhibit 99.1 attached hereto, is being
      furnished and shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of
      the Securities and Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) or
      otherwise subject to the liabilities of that section, nor shall it be
      deemed incorporated by reference in any filing under the Securities Act
      of 1933, as amended, or the Exchange Act, regardless of any general
      incorporation language in such filing.&#160;&#160;In addition, this report
      (including Exhibit 99.1) shall not be deemed an admission as to the
      materiality of any information contained herein that is required to be
      disclosed solely as a requirement of this Item.
    </p>
    <p style="white-space: nowrap">
      <u>Item 9.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</u>.
    </p>
    <p style="white-space: nowrap">
      (d)&#160;&#160;Exhibits
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <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; white-space: nowrap; padding-left: 0.0px; width: 20%; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </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 26, 2017
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

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

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

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

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

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURES</font>
    </p>
    <p style="text-align: left; text-indent: 60.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 49%">

        </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 valign="top" colspan="3" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            BUILD-A-BEAR WORKSHOP, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 49%">

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

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

        </td>
        <td style="width: 14%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 49%">

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

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

        </td>
        <td style="width: 14%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 49%">

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

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

        </td>
        <td style="width: 14%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px; width: 5%">
          Date:
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px; width: 49%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            October 26, 2017
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px; width: 6%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td valign="top" colspan="2" style="border-bottom-width: 1.0pt; text-align: left; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Voin Todorovic
          </p>
        </td>
        <td style="width: 20%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 49%">
          <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">
            &#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" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Voin Todorovic
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 49%">

        </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 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" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

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

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

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

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

    </p>
    <p style="text-align: center">
      EXHIBIT INDEX
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt; width: 100%" cellspacing="0">
      <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; white-space: nowrap; padding-left: 0.0px; width: 20%; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51705581ex99_1.htm">99.1</a>
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 80%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51705581ex99_1.htm">Press Release dated October 26, 2017</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
    <p style="text-align: center">
      4
    </p>
  </body>
</html>
<!--<!DOCTYPE html
     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51705581ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2017 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Build-A-Bear
      Workshop, Inc. Reports Third Quarter Fiscal 2017 Results</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>For the
      2017 third quarter:</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Total
        revenue is $82.4 million, a 1.6% decline from the prior year inclusive
        of a 7.4% decrease in consolidated comparable sales</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Retail
        gross margin improves 90 basis points to 44.2%</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Pre-tax
        income is $2.2 million, in line with guidance, resulting in diluted
        earnings per share of $0.09</b></font>
      </li>
    </ul>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>First
      Nine Months of 2017:</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Pre-tax
        income is $4.1 million, more than double the $1.8 million pre-tax
        income achieved in the first nine months of 2016</b></font>
      </li>
    </ul>
    <p>
      ST. LOUIS--(BUSINESS WIRE)--October 26, 2017--Build-A-Bear Workshop,
      Inc. (NYSE:BBW) today reported results for the 2017 third quarter and
      the 39 weeks ended September 30, 2017.
    </p>
    <p>
      Sharon Price John, Build-A-Bear Workshop President and Chief Executive
      Officer, commented, &#8220;For the third quarter, we reported total revenue
      that approached last year&#8217;s and pre-tax earnings in line with guidance,
      despite expected softness in comps, due in part to continued macro
      traffic challenges and the disruption caused by the planned transition
      to our new web platform. Normalizing for the web transition and
      unexpected weather impacts, we estimate our total revenue would have
      been slightly positive. Our ability to deliver these earnings is
      reflective of our focus on expanding gross margin; our strategy to
      transform the store base to more productive formats, which are not all
      included in comp sales; and the evolution of revenue streams beyond
      traditional stores. Toward the end of the quarter, we also built on the
      success of last year&#8217;s National Teddy Bear Day event and made final
      preparations for the early October relaunch of the Build-A-Bear website.
    </p>
    <p>
      &#8220;We believe we are positioned to capitalize on the holiday selling
      season with a strong lineup of licensed and proprietary properties,&#8221; Ms.
      John continued. &#8220;We remain focused on evolving our strategy of
      delivering growth in total revenues and profit expansion while remaining
      disciplined in regard to capital allocation. Separately, we are excited
      to announce the return of our brand to Manhattan with a new Discovery
      store next to the Empire State Building slated to open later today.&#8221;
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>Third Quarter 2017 Highlights (13 weeks ended September 30, 2017,
      compared to the 13 weeks ended October 1, 2016):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $82.4 million compared to $83.7 million in the
        fiscal 2016 third quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $80.6 million compared to $81.9
        million in the fiscal 2016 third quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable sales declined 7.4% and included a 7.8%
        decrease in North America, and a 5.2% decrease in Europe. Following a
        25.2% increase in e-commerce sales in the fiscal 2016 third quarter,
        this year&#8217;s consolidated comparable e-commerce sales decreased 18.2%,
        partially reflecting the expected disruption caused by the transition
        to a new web platform;
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin was 44.2%, an increase of 90 basis points compared
        to the fiscal 2016 third quarter, reflecting a 220 basis-point
        expansion in merchandise margin partially offset by de-leverage of
        fixed occupancy costs;
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, general and administrative (&#8220;SG&amp;A&#8221;) expenses were $34.3
        million, or 41.6% of total revenues, compared to $33.4 million, or
        39.9% of total revenues, in the fiscal 2016 third quarter. The
        increase is driven by the reversal of performance based compensation
        in last year&#8217;s results as well as an increase in expenses related to
        store count growth this year offset by favorable exchange rates in the
        2017 fiscal third quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Pre-tax income was $2.2 million compared to pre-tax income of $2.8
        million in the fiscal 2016 third quarter;
      </li>
      <li style="margin-bottom: 10.0px">
        Income tax expense was $0.7 million with an effective tax rate of
        33.4%, compared to income tax expense of $1.0 million with an
        effective tax rate of 34.2% in the fiscal 2016 third quarter; and
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $1.4 million, or $0.09 per diluted share, compared to
        net income of $1.8 million, or $0.11 per diluted share, in the fiscal
        2016 third quarter.
      </li>
    </ul>
    <p>
      <b>First Nine Months Fiscal 2017 Highlights (39 weeks ended September
      30, 2017, compared to the 39 weeks ended October 1, 2016):</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenues were $250.3 million compared to $253.9 million in the
        first nine months of fiscal 2016;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated net retail sales were $243.6 million compared to $249.9
        million in the first nine months of fiscal 2016;
      </li>
      <li style="margin-bottom: 10.0px">
        Consolidated comparable sales decreased 5.8% and included a 6.4%
        decrease in North America and a 2.4% decrease in Europe. Consolidated
        comparable e-commerce sales decreased 4.9% following an 11.9% increase
        in the first nine months of fiscal 2016;
      </li>
      <li style="margin-bottom: 10.0px">
        Retail gross margin was 45.1% compared to 44.9% in the first nine
        months of fiscal 2016, driven by improvements in merchandise margin;
      </li>
      <li style="margin-bottom: 10.0px">
        SG&amp;A expenses decreased $2.4 million to $107.8 million, or 43.1% of
        total revenues, compared to 43.4% of total revenues in the first nine
        months of fiscal 2016;
      </li>
      <li style="margin-bottom: 10.0px">
        Pre-tax income was $4.1 million compared to a pre-tax income of $1.8
        million in the first nine months of fiscal 2016;
      </li>
      <li style="margin-bottom: 10.0px">
        Tax expense was $1.5 million with an effective tax rate of 35.5%
        compared to tax expense of $0.8 million with an effective tax rate of
        42.0% in the first nine months of fiscal 2016; and
      </li>
      <li style="margin-bottom: 10.0px">
        Net income was $2.7 million, or $0.17 per diluted share, compared to
        net income of $1.1 million, or $0.07 per diluted share, in the first
        nine months of fiscal 2016.
      </li>
    </ul>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>Store Activity:</b>
    </p>
    <p>
      During the third quarter, the Company opened 9 new stores, closed 9
      locations and remodeled or reformatted 7 stores. As of September 30,
      2017, the Company operated 353 company-owned stores, including 100 in a
      Discovery format, with 292 locations in North America, 60 in Europe and
      1 in China. The Company&#8217;s international franchisees ended the period
      with 90 stores in 11 countries.
    </p>
    <p>
      <b>Balance Sheet:</b>
    </p>
    <p>
      The Company ended the fiscal 2017 third quarter with cash and cash
      equivalents totaling $10.9 million and no borrowings under its revolving
      credit facility. Total inventory at quarter-end was $62.0 million
      compared to $59.4 million in the prior year third quarter, an increase
      of 4.3%. Excluding concourse shops, average inventory per store is down
      6.5% at the end of the 2017 fiscal third quarter. In the fiscal 2017
      third quarter, capital expenditures were $4.8 million, and depreciation
      and amortization was $4.2 million.
    </p>
    <p>
      <b>Share Repurchase:</b>
    </p>
    <p>
      On August 21, 2017, in conjunction with the completion of the Company&#8217;s
      review of strategic alternatives, the Board of Directors approved a
      share repurchase program of up to $20.0 million. During the third
      quarter of 2017, the Company utilized $1.0 million in cash to repurchase
      approximately 112,000 shares of its common stock. At quarter end, the
      Company had $19.0 million available under the share repurchase
      authorization.
    </p>
    <p>
      <b>2017 Key Strategic Initiatives:</b>
    </p>
    <p>
      <u>CHANNEL Evolution</u>
    </p>
    <p>
      The Company continues to evolve its real estate portfolio by
      diversifying locations and formats. Building on a successful test in
      fall 2016, the Company expanded its new, innovative concourse shop model
      by adding 3 locations in the third quarter, ending the period with 23
      concourse shops. Concourse shops require less capital, have shorter term
      leases and, at approximately 200 square feet, offer a flexible model for
      a wide range of venues. Separately, today, the Company is expected to
      open a new location in New York City next to the Empire State Building,
      allowing it to serve both tourists and local consumers.
    </p>
    <p>
      The Company also continues to leverage its successful Discovery store
      format as it remodeled or relocated 7 locations in the third quarter
      finishing the period with 100 locations in a Discovery format including
      the aforementioned concourse shops.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      During the third quarter, the Company made final preparations for the
      early October relaunch of the Build-A-Bear web platform, which is
      expected to allow for improved performance ahead of the fourth quarter
      and holiday season while paving the way for increased omni-channel
      capabilities.
    </p>
    <p>
      On the international front, the Company has signed a new franchise
      agreement granting territory rights in China, Hong Kong and Macau with
      plans to open the first store in Beijing this December.
    </p>
    <p>
      <u>PRODUCT Expansion</u>
    </p>
    <p>
      The Company is focused on meeting the needs of its core consumer base,
      boys and girls ages 3 to 12, while systematically building secondary
      consumer segments, including the teen-plus affinity and gift-giver
      consumers. Accordingly, the Company plans to balance its offering of
      core products with a comprehensive program of key licensed properties,
      including products with tie-ins to major movie releases throughout the
      remainder of 2017, while continuing to develop and expand offerings of
      its successful owned intellectual property stories, such as its Promise
      Pets, Honey Girls and the holiday-specific Merry Mission collections.
    </p>
    <p>
      The Company also plans to continue to build outbound licensing programs
      by leveraging the power of the Build-A-Bear brand, as well as other
      owned intellectual properties. New license agreements have been added in
      categories ranging from non-plush toys to slippers and electronics, with
      updates and launches planned throughout the rest of the year.
    </p>
    <p>
      <u>BRAND and EXPERIENCE Amplification</u>
    </p>
    <p>
      In addition to creating sharable, emotional content that more
      authentically communicates the heart of the brand, the Company is making
      adjustments to marketing programs that create synergy across channels.
      In September, the Company held its second annual celebration of National
      Teddy Bear Day with an in-store event that built on the prior year&#8217;s
      success. Separately, the Company plans to continue to develop
      entertainment content, including mobile apps, music videos and other
      opportunities that increase engagement and are designed to improve
      efficiency, drive traffic and lead to profitable sales growth.
    </p>
    <p>
      <u>LONG-TERM PROFITABILITY Improvement</u>
    </p>
    <p>
      The Company is focused on improving profitability by driving revenue
      growth through the execution of its stated strategies, as well as
      disciplined expense management and ongoing efforts in process and
      systems upgrades, including the recent launch of its new web platform.
      In the third quarter, the Company improved both merchandise margin and
      gross profit margin reflecting the successful execution of its
      profitability improvement initiatives.
    </p>
    <p>
      As Build-A-Bear celebrates its 20th year in business and continues to
      evolve into a multi-generational, multi-dimensional branded company, the
      plans and actions that have been implemented since the start of the
      turnaround in 2013 are expected to provide the foundation to execute the
      Company&#8217;s strategies and achieve its goal of sustained profitable growth.
    </p>
    <p>
      <b>Today&#8217;s Conference Call Webcast:</b>
    </p>
    <p>
      Build-A-Bear Workshop will host a live internet webcast of its quarterly
      investor conference call at 9 a.m. ET today. The audio broadcast may be
      accessed at the Company&#8217;s investor relations website, <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 website for one year. A telephone replay will be
      available beginning at approximately noon ET today until midnight ET on
      November 11, 2017. The telephone replay is available by calling
      (844)-512-2921. The access code is 13671471.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>About Build-A-Bear</b>
    </p>
    <p>
      Celebrating 20 years of business in 2017, Build-A-Bear is a global brand
      kids love and parents trust that seeks to add a little more heart to
      life. Build-A-Bear Workshop has over 400 stores worldwide where guests
      can create customizable furry friends, including company-owned stores in
      the United States, Canada, Denmark, Ireland, Puerto Rico, the United
      Kingdom and China, and franchise stores in Africa, Asia, Australia,
      Europe, Mexico and the Middle East. The company was named to the FORTUNE
      100 Best Companies to Work For<sup>&#174;</sup> list for the ninth year
      in a row in 2017. Build-A-Bear Workshop, Inc. (NYSE:BBW) posted a total
      revenue of $364.2 million in fiscal 2016. For more information, visit
      the Investor Relations section of buildabear.com.
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      This press release contains certain statements that are, or may be
      considered to be, &#8220;forward-looking statements&#8221; for the purpose of
      federal securities laws, including, but not limited to, statements that
      reflect our current views with respect to future events and financial
      performance. We generally identify these statements by words or phrases
      such as &#8220;may,&#8221; &#8220;might,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221;
      &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;predict,&#8221; &#8220;future,&#8221; &#8220;potential&#8221; or
      &#8220;continue,&#8221; the negative or any derivative of these terms and other
      comparable terminology. All of the information concerning the potential
      outcome of exploring strategic alternatives, our future liquidity,
      future revenues, margins and other future financial performance and
      results, achievement of operating of financial plans or forecasts for
      future periods, sources and availability of credit and liquidity, future
      cash flows and cash needs, success and results of strategic initiatives
      and other future financial performance or financial position, as well as
      our assumptions underlying such information, constitute forward-looking
      information.
    </p>
    <p>
      These statements are based only on our current expectations and
      projections about future events. Because these forward-looking
      statements involve risks and uncertainties, there are important factors
      that could cause our actual results, level of activity, performance or
      achievements to differ materially from the results, level of activity,
      performance or achievements expressed or implied by these
      forward-looking statements, including those factors discussed under the
      caption entitled &#8220;Risks Related to Our Business&#8221; and &#8220;Forward-Looking
      Statements&#8221; in our Annual Report on Form 10-K filed with the Securities
      and Exchange Commission (&#8220;SEC&#8221;) on March 16, 2017 and other periodic
      reports filed with the SEC which are incorporated herein.
    </p>
    <p>
      All of our forward-looking statements are as of the date of this Press
      Release only. In each case, actual results may differ materially from
      such forward-looking information. We can give no assurance that such
      expectations or forward-looking statements will prove to be correct. An
      occurrence of or any material adverse change in one or more of the risk
      factors or other risks and uncertainties referred to in this Press
      Release or included in our other public disclosures or our other
      periodic reports or other documents or filings filed with or furnished
      to the SEC could materially and adversely affect our continuing
      operations and our future financial results, cash flows, available
      credit, prospects and liquidity. Except as required by law, the Company
      does not undertake to publicly update or revise its forward-looking
      statements, whether as a result of new information, future events or
      otherwise.
    </p>
    <p>
      All other brand names, product names, or trademarks belong to their
      respective holders.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt; width: 100%" cellspacing="0">
      <tr>
        <td colspan="12">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="12">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="12" style="text-align: center; padding-left: 0.0px">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="12" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Condensed Consolidated Statements of Operations</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="12" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except share and per share data)
        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>September 30,</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="3" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Net retail sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          80,551
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          97.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          81,870
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          97.8
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,305
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,322
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          572
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.7
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          556
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px">
          Total revenues
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          82,428
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          83,748
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Costs and expenses:
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Cost of merchandise sold - retail <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          44,915
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          55.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          46,461
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          56.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Cost of merchandise sold - commercial <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          590
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          45.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          535
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          40.5
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Selling, general and administrative
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          33,404
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px">
          Store preopening
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          488
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          571
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Interest (income) expense, net
        </td>
        <td>

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px">
          Total costs and expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          80,263
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          97.4
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          80,952
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          96.7
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 35.0px">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,165
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,796
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          723
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          955
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 35.0px; padding-bottom: 4.0px">
          Net income
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,442
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: center; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,841
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: center; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          2.2
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 4.0px">
          Basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.09
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.12
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 15.0px; padding-bottom: 4.0px">
          Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.09
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.11
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,633,290
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,518,115
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,816,265
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,691,004
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </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>
        <td>

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

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt; width: 100%" cellspacing="0">
      <tr>
        <td colspan="14">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="14">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="14" style="text-align: center; padding-left: 0.0px">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="14" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Condensed Consolidated Statements of Operations</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="14" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except share and per share data)
        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

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

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          243,559
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          97.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          249,854
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          5,037
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,601
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,689
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.7
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,407
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px">
          Total revenues
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          250,285
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          253,862
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Cost of merchandise sold - retail <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          133,686
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          54.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          137,778
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; white-space: nowrap; padding-left: 15.0px; padding-right: 0.0px">
          Cost of merchandise sold - commercial <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,712
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          53.8
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,213
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          46.6
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Selling, general and administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          107,760
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          43.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          110,135
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          43.4
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,000
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,969
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Interest (income) expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (16
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px">
          Total costs and expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          246,142
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          98.3
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          252,037
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          99.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,143
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,825
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,470
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          767
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          2,673
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: center; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,058
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: center; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.4
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.07
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.07
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,600,184
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,471,759
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,789,851
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,650,143
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </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>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="text-align: center; padding-left: 0.0px">
          <b>BUILD-A-BEAR WORKSHOP, INC. AND SUBSIDIARIES</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Condensed Consolidated Balance Sheets</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except share and per share data)
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td valign="top" colspan="3" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

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

        </td>
        <td colspan="11">

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          10,920
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          32,483
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          11,780
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          61,952
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          51,885
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          59,398
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          7,881
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          12,939
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,787
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px; padding-bottom: 2.0px">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          13,365
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          12,737
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          13,752
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          94,118
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          110,044
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          93,717
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          76,718
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          74,924
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          71,984
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          9,803
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          8,256
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          10,737
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,131
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,721
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,653
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          2,571
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          4,650
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          4,806
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          184,341
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          199,595
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          182,897
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="text-align: center; padding-left: 0.0px">
          <b>LIABILITIES AND STOCKHOLDERS' EQUITY</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          16,855
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          27,861
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          26,242
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          13,055
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,897
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          11,918
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          27,584
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          37,070
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          27,094
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,768
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,029
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,030
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          59,350
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          82,857
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          67,284
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          17,914
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,438
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          15,278
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          504
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          565
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          603
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,643
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,623
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,008
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          159
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          159
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          159
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          69,972
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          68,001
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          67,197
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (11,623
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (12,727
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (11,994
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          46,422
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          43,679
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          43,362
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          104,930
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          99,112
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          98,724
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          184,341
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          199,595
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          182,897
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

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

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

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="18" style="text-align: center; padding-left: 0.0px">
          <b>Unaudited Selected Financial and Store Data</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="18" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except square foot data)
        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Retail gross margin ($) <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          35,636
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          35,409
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          109,873
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          112,076
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Retail gross margin (%) <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          44.2
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,797
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          6,331
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          12,824
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          18,213
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          4,201
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          3,954
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          12,084
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          11,573
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Number of company-owned retail locations at end of period
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          292
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          271
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px">
          Asia
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 45.0px">
          Total company-owned retail locations
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          330
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Number of franchised stores at end of period
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Company-owned store square footage at end of period<sup> (4)</sup>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          723,486
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          730,283
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          82,117
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          85,416
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px; padding-bottom: 2.0px">
          Asia
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,750
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,750
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          807,353
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          817,449
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Consolidated comparable sales change <sup>(5)</sup></b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (7.8
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (6.4
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (2.0
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (5.2
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (4.8
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (2.4
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (5.5
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px; padding-bottom: 4.0px">
          Consolidated
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (7.4
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (2.2
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (5.8
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (2.6
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Stores
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (6.9
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (5.8
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (18.2
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          25.2
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (4.9
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: right; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          11.9
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; text-align: left; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 25.0px; padding-bottom: 4.0px">
          Consolidated
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (7.4
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (2.2
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (5.8
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          (2.6
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: left; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          )%
        </td>
        <td>

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

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

        </td>
        <td>

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

        </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>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 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,
          software, other assets and other intangible assets.
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Excludes e-commerce. North American stores are located in the United
          States, Canada and Puerto Rico. In Europe, stores are located in the
          United Kingdom, Ireland and Denmark. In Asia, the store is located
          in China.
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 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 and Asia is
          estimated selling square footage.
        </td>
        <td>

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

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

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

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

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

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

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="18" style="text-align: center; padding-left: 0.0px">
          <b>Reconciliation of Net Income to Adjusted Net Income <sup>(1)</sup></b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="18" style="text-align: center; padding-left: 0.0px">
          (dollars in thousands, except per share data)
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,442
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,841
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          2,673
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          1,058
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Foreign exchange (gains) losses <sup>(2) (7)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (514
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          87
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (1,568
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Duty dispute<sup> (3) (7)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          81
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          204
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          China start-up costs <sup>(4) (7)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          212
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          937
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Income tax charges <sup>(5)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          136
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Income tax impact <sup>(6)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (75
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          142
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          (566
        </td>
        <td valign="bottom" style="text-align: left; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          )
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,068
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          2,065
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,669
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          1,584
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

        </td>
        <td valign="top" colspan="3" style="text-align: center; padding-left: 0.0px">
          <b>October 1,</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="border-bottom-width: 1.0pt; text-align: center; white-space: nowrap; border-bottom-style: solid; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          <b>2016</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Net income per diluted share
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.11
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.17
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px">
          0.07
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Foreign exchange (gains) losses <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Duty dispute<sup> (3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          China start-up costs <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Income tax charges <sup>(5)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Income tax impact <sup>(6)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Adjusted net income per diluted share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.07
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; text-align: right; white-space: nowrap; border-bottom-style: double; border-bottom-color: black; padding-left: 0.0px; padding-right: 0.0px">
          0.13
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

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

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

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

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

        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          When originally presented, the 2016 results were not adjusted until
          the fourth quarter. The adjustments for 2016 are now included to be
          consistent with what the Company included as adjustments for the
          full year of 2016 and with what it expects to include for the
          remainder of 2017.
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Represents the consolidated impact of foreign exchange rates on the
          re-measurement of balance sheet items not denominated in functional
          currency recorded under the provisions of U.S. GAAP and
          transactional gains and losses. This does not include any impact on
          margin associated with the translation of revenues or the foreign
          subsidiaries' purchase of inventory in U.S. dollars.
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Charges related to an ongoing dispute with the customs authority in
          the United Kingdom related to duty on imports dating back to 2009,
          recorded under the provisions of U.S. GAAP. The Company continues to
          vigorously pursue the claim.
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Represents the costs associated with opening the first company-owned
          location in China, including start-up costs and store preopening.
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Includes certain discrete items, including the impact of the
          adoption of a new accounting standards in Q1 2017.
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Represents the aggregate impact of the pre-tax adjustments,
          excluding income tax valuation allowance on income tax expense for
          the respective periods.
        </td>
        <td>

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          These pre-tax adjustments totaled $(0.4) million and $0.3 million
          for the 13 weeks ended September 30, 2017 and October 1, 2016,
          respectively, and $(1.1) million and $1.1 million for the 39 weeks
          ended September 30, 2017 and October 1, 2016, respectively.
        </td>
        <td>

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

    </p>
    <p>
      CONTACT:<br>Build-A-Bear Workshop<br>Investors:<br>Voin Todorovic,
      314.423.8000 x5221<br>or<br>Media:<br>Beth Kerley<br><u>bethk@buildabear.com</u>
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
