Build-A-Bear names new CEO after Q1 revenue dip, lower outlook

Chris Hurt has taken the CEO seat at Build-A-Bear (BBW), succeeding Sharon Price John. The company also shifted two other executive roles. Hurt, previously chief operations and experience officer, joined the board alongside his promotion.

The leadership changes follow a first quarter that missed expectations. Revenue fell 2.4% from a year earlier to $125.3 million. Net income rose more than 19% to $18.3 million. Build-A-Bear lowered its full-year revenue guidance to a range of $530 million to $550 million, down from prior expectations.

“We are dedicated to continuing to advance the experiences and partnerships that drive innovation,” Hurt said in a statement. He emphasized a focus on “profitable growth” and ensuring Build-A-Bear remains a “beloved and distinctive company.”

The outgoing CEO, Sharon Price John, is leaving for Carter’s, where she will become CEO and president. In May, Carter’s announced her appointment. John said in the first-quarter release that the company is “taking steps to address” the revenue shortfall while transitioning to Hurt’s leadership.

Hurt has been with Build-A-Bear for more than a decade. The CFO, Voin Todorovic, has been with the company since 2014 after stints at Wolverine World Wide, Stride Rite, Collective Brands, and Payless Shoe Source. The chief revenue officer, Jenn Henderson, now becomes chief growth officer, responsible for all global revenue streams. Henderson said on LinkedIn she was “honored to take on this new role.” She spent two decades at Hasbro (HAS) and was chief commercial officer at Melissa & Doug before joining Build-A-Bear less than two years ago.

The company said the leadership changes align management with its strategic initiatives and business priorities. Build-A-Bear now expects total revenue between $530 million and $550 million for the fiscal year.