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Build-A-Bear Gives Up on Friends 2B Made

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Build-A-Bear Workshop Inc. said it plans to close friends 2B made concept, a line of make-your-own dolls, and expects related charges in the third and fourth quarters, and through the third quarter of fiscal 2009, sending its shares down as much as 14 percent.

"With the slowdown in consumer spending, particularly for discretionary products, we believe the best strategic course for the company is to continue to focus our primary efforts on building our Build-A-Bear Workshop," Chief Executive Maxine Clark said in a statement.

The stuffed-toys retailer has operated 9 friends 2B made stores with little fanfare since the fourth quarter of 2006, so its action was not a surprise, Stifel Nicolaus & Co Inc analyst David Schick said in a note to clients.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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