How Does Build-A-Bear Workshop Investor Relations Work?

Build-A-Bear Workshop’s investor relations operates through a dedicated department led by Gary Schnierow, Vice President of Investor Relations and Corporate Finance, managing communication with shareholders and the investment community. The IR function encompasses quarterly earnings releases, conference calls, SEC filings, investor presentations, and shareholder services for the NYSE-traded company (ticker: BBW).

Core Communication Channels

Build-A-Bear maintains its investor relations program through multiple communication platforms designed to serve both institutional and retail investors.

The company operates two connected IR websites—ir.buildabear.com and buildabear.gcs-web.com—hosted through GCS Web, a third-party investor relations platform provider. These sites serve as the central hub for all investor-related information, including financial reports, press releases, stock performance data, and corporate governance materials. The dual-website approach reflects a common practice where companies maintain both a branded domain and a platform-provided domain for technical and SEO purposes.

Press releases distributed through Business Wire form another key communication channel. Build-A-Bear issues announcements for quarterly earnings, dividend declarations, executive appointments, and other material events. These releases follow SEC disclosure requirements and reach investors through multiple financial news platforms simultaneously.

The IR website provides comprehensive access to regulatory filings, with direct links to the company’s SEC submissions. Investors can find annual reports (10-K), quarterly reports (10-Q), current reports (8-K), and proxy statements (DEF 14A) through these portals. The company includes forward-looking statement disclaimers prominently, noting that historical information may become outdated and should be reviewed with appropriate context.

Quarterly Earnings Process

Build-A-Bear follows a structured quarterly reporting cycle that represents the backbone of its investor communication strategy.

The company announces earnings dates approximately two weeks before each quarterly report. For example, in August 2025, Build-A-Bear announced it would report second quarter fiscal 2025 results on August 28, 2025, before market open. This advance notice allows analysts and investors time to prepare questions and update their financial models.

Earnings releases typically publish before NYSE trading begins, providing key financial metrics including total revenues, pre-tax income, diluted earnings per share, and same-store sales performance. Build-A-Bear’s fiscal 2024 revenues reached $496 million, up from $486.1 million in fiscal 2023, demonstrating the type of year-over-year comparisons featured in these releases.

Conference calls follow earnings releases the same morning, usually concluding by 10 a.m. Eastern Time. Investors can access these calls through multiple methods: live dial-in numbers (both toll and toll-free options), live webcast on the IR website, or later through archived replays. Phone replays remain available for approximately one week, while webcast replays stay on the IR website for one year. The company provides specific dial-in numbers, access codes, and replay access codes for each call, ensuring broad accessibility.

During these calls, CEO Sharon Price John, CFO Voin Todorovic, and other executives present results and take analyst questions. Gary Schnierow typically opens these calls with standard legal disclaimers about forward-looking statements and non-GAAP measures. The Q&A sessions address topics ranging from same-store sales trends and e-commerce performance to supply chain management and store expansion plans.

Investor Presentations and Roadshows

Beyond quarterly earnings, Build-A-Bear creates and distributes investor presentations that provide deeper strategic context.

The company produces detailed slide decks for investor conferences and meetings with institutional investors. An August 2025 investor presentation, for instance, included sections on financial performance, store formats, licensing partnerships, and growth strategies. These presentations feature non-GAAP financial measures such as EBITDA, return on invested capital (ROIC), and web demand metrics, which the company reconciles to GAAP measures in accordance with SEC requirements.

Build-A-Bear files these presentations as Form 8-K exhibits when used in investor communications, making them publicly available. The company notes that representatives may present portions of these decks at various investor conferences throughout the year, allowing both institutional and retail investors to access the same strategic messaging.

Investor conferences and roadshows provide face-to-face engagement opportunities. While Build-A-Bear’s specific conference schedule varies, retail sector companies typically participate in 5-10 investor conferences annually, hosted by investment banks and research firms. These events allow management to meet with current and prospective shareholders, presenting the company’s strategic vision and answering detailed questions about business operations.

Dividend Program Management

Build-A-Bear initiated a quarterly dividend program in fiscal 2023, adding a significant component to its investor relations activities.

The Board of Directors declares dividends quarterly, with the IR team communicating these decisions through press releases. In fiscal 2025, Build-A-Bear paid a quarterly dividend of $0.22 per share, representing a 10% increase from the prior year’s $0.20 per share. Dividend announcements specify the payment date, record date, and amount per share, giving investors clear expectations for cash distributions.

The dividend program demonstrates management’s confidence in cash flow generation and commitment to returning value to shareholders. For retail investors particularly, these regular cash payments provide tangible returns beyond stock price appreciation. The IR team includes dividend history and policies in investor materials, helping potential investors understand this aspect of the investment proposition.

Each dividend announcement includes forward-looking statement disclaimers noting that future dividends depend on board decisions and could be subject to increases, decreases, or elimination based on business conditions and capital allocation priorities.

Regulatory Compliance and SEC Filings

Regulatory compliance forms a critical, though often less visible, aspect of Build-A-Bear’s investor relations function.

The company files standard public company reports with the SEC on a regular schedule. Annual reports (Form 10-K) provide comprehensive business overviews, audited financial statements, risk factor discussions, and management’s discussion and analysis (MD&A). Quarterly reports (Form 10-Q) offer similar information for interim periods, though with less detail than annual filings.

Current reports (Form 8-K) disclose material events within four business days, covering items such as earnings releases, executive changes, material agreements, and asset acquisitions or disposals. Build-A-Bear files 8-Ks for investor presentations, ensuring transparency about information shared with select investor audiences.

The IR website provides hyperlinks to these SEC filings, acknowledging that these connect to third-party SEC filing websites. This approach reflects the company’s reliance on EDGAR (Electronic Data Gathering, Analysis, and Retrieval system) for official regulatory submissions while making them accessible through its branded investor portal.

Build-A-Bear includes specific legal language about the hosted content, noting that it doesn’t maintain or monitor certain linked sites and doesn’t provide information directly to some third-party platforms. This disclaimer protects the company from liability for third-party website issues while maintaining SEC compliance for its own submissions.

Direct Investor Contact and Support

Build-A-Bear provides direct access to its investor relations team through established contact channels.

Gary Schnierow serves as the primary IR contact, with his email (garys@buildabear.com) published in all press releases and on the IR website. This direct accessibility reflects best practices for mid-cap companies, where a dedicated IR professional can personally handle investor inquiries rather than routing them through a general IR inbox.

The IR team responds to a range of stakeholder inquiries, from institutional investors seeking detailed financial data to retail shareholders with questions about dividend payments or stock purchase plans. Response time standards in the investor relations industry typically aim for acknowledgment within 24 hours and substantive responses within 2-3 business days for most inquiries.

For media inquiries separate from investor questions, Build-A-Bear maintains a distinct PR contact (pr@buildabear.com), ensuring appropriate routing of different stakeholder communications. This separation prevents investor-specific questions from getting lost in general media inquiries and vice versa.

The IR website includes additional resources such as an events calendar showing upcoming earnings dates, conference appearances, and shareholder meeting information. Investors can also sign up for email alerts to receive automatic notifications of press releases and SEC filings, enabling proactive communication rather than requiring investors to repeatedly check the website.

Technology Platform and Website Infrastructure

Build-A-Bear’s investor relations technology choices reflect common practices among mid-cap public companies.

The GCS Web platform provides the technical infrastructure for Build-A-Bear’s IR website, hosting financial data, press releases, and multimedia content. GCS Web serves numerous public companies across various industries, offering standardized IR website functionality including document management, stock quote widgets, SEC filing feeds, and event calendars.

This third-party platform approach offers several advantages: professional website maintenance without internal IT resources, regular updates to accommodate regulatory changes, and established best practices for investor website design. The tradeoff involves less customization compared to fully bespoke IR websites that larger companies might build.

The IR website includes standard features such as stock price quotes (delayed 15 minutes per exchange rules), historical stock charts, analyst coverage information when available, and corporate governance documents including board committee charters and codes of conduct. These elements comply with NYSE listing requirements and investor expectations for transparent corporate governance practices.

Build-A-Bear maintains separate sections for different stakeholder needs: a newsroom for press releases, a presentations library for investor decks, a financials section for reports and filings, and corporate governance materials for proxy statements and committee information. This organization helps different user types navigate efficiently to their areas of interest.

Annual Shareholder Engagement

Beyond quarterly rhythms, Build-A-Bear conducts annual shareholder meetings as required for publicly traded companies.

The annual meeting typically occurs in the spring or early summer, following the company’s fiscal year-end. Build-A-Bear’s fiscal year ends in early February, with the annual meeting usually held several months later after the annual report (Form 10-K) and proxy statement (DEF 14A) are filed.

The IR team coordinates all logistics for the annual meeting, including drafting the proxy statement, managing the voting process, and organizing the meeting format (in-person, virtual, or hybrid). The proxy statement discloses executive compensation, director nominations, shareholder proposals, and other governance matters requiring shareholder votes.

Retail investors can vote their shares through mail-in proxy cards, phone voting systems, or online voting platforms. The company’s transfer agent manages the vote tabulation process, while the IR team communicates voting instructions and deadlines through various channels. Institutional investors with large holdings typically vote through proxy advisory firms like ISS (Institutional Shareholder Services) or Glass Lewis.

The annual meeting itself provides an opportunity for shareholders to hear directly from management, ask questions, and vote on matters such as director elections, executive compensation (say-on-pay votes), and auditor ratification. While attendance at mid-cap company annual meetings typically skews toward retail investors and employee shareholders, the event represents an important governance milestone in the annual IR calendar.

Analyst Relations and Research Coverage

Build-A-Bear’s investor relations function includes engagement with equity research analysts who cover the company.

The number of analysts covering Build-A-Bear varies based on market conditions and the company’s market capitalization, but specialty retail companies of this size typically maintain coverage from 3-6 sell-side analysts. These analysts work for investment banks and brokerage firms, publishing research reports that help institutional investors evaluate Build-A-Bear’s stock.

The IR team maintains regular contact with these analysts, providing consistent information access while adhering to Regulation Fair Disclosure (Reg FD) requirements. Reg FD prohibits selective disclosure of material non-public information, meaning Build-A-Bear must share the same information with all investors simultaneously. Conference calls and press releases ensure this equal access principle.

Analysts typically update their financial models and price targets after each quarterly earnings release, incorporating new data about sales trends, margin performance, and management guidance. The IR team may schedule one-on-one or small group meetings with analysts during non-quiet periods (times when material information isn’t pending release), allowing for detailed discussions about business fundamentals.

Research reports from these analysts get distributed to institutional investors, influencing investment decisions and contributing to the stock’s trading patterns. While Build-A-Bear doesn’t control analyst opinions or recommendations, the IR team works to ensure analysts have accurate information and understand the company’s strategic positioning.

Shareholder Composition Monitoring

Understanding who owns Build-A-Bear shares helps the IR team tailor communications and engagement strategies.

The company monitors its shareholder base through various data sources. Public filings such as Form 13F (filed by institutional investors managing over $100 million) reveal institutional holdings quarterly. Large shareholders (those owning 5% or more) must file Schedule 13D or 13G, providing visibility into concentrated ownership.

Retail investor ownership, while harder to track precisely, can be estimated through transfer agent data and street name holdings. Many retail investors hold shares through brokerage accounts in “street name” (registered to the broker rather than the individual), making exact retail investor counts difficult without specialized services.

The IR team likely uses shareholder surveillance services that combine public filing data with proprietary intelligence to provide a comprehensive view of the shareholder base. This information helps Build-A-Bear understand its investor mix, identify potential new institutional investors who might be interested in the stock, and recognize changes in ownership patterns that could signal activist investor interest or changes in shareholder sentiment.

Different shareholder types have different information needs and communication preferences. Institutional investors typically want detailed financial modeling data, management access, and strategic insights. Retail investors often prioritize simpler financial updates, dividend information, and understanding the company’s basic business prospects. The IR program attempts to serve both constituencies effectively.

Crisis Communication Preparedness

Though not frequently required, the IR function includes protocols for managing unexpected events or adverse developments.

Public companies face various scenarios that demand rapid IR response: earnings misses relative to guidance, accounting issues requiring restatements, executive departures, cybersecurity incidents, or operational disruptions. Build-A-Bear’s IR team works with legal counsel and senior management to develop communication strategies for these situations.

The timing of disclosure becomes critical during crises. Material events generally require Form 8-K filing within four business days, though some events (like changes in accountants or financial condition) demand faster disclosure. The IR team must balance providing adequate information with avoiding premature disclosures that could create unnecessary volatility.

During challenging periods, IR communication frequency often increases. Companies might schedule special conference calls to address specific issues, issue FAQ documents for common investor questions, or increase one-on-one engagement with key shareholders to explain management’s response plans. Transparency and prompt communication generally serve companies better than delays or minimal information, as markets dislike uncertainty more than bad news with clear remediation plans.

The IR function also monitors trading patterns and stock price movements, watching for unusual activity that might indicate information leaks or misinformation. While Build-A-Bear likely doesn’t maintain a full-time trading desk surveillance operation, the IR team stays aware of significant stock price or volume changes and investigates potential causes.

Integration with Finance and Communications

Investor relations at Build-A-Bear doesn’t operate in isolation but integrates with other corporate functions.

Gary Schnierow’s dual title as Vice President of Investor Relations & Corporate Finance reflects this integration. The IR function requires deep financial knowledge to interpret results, forecast future performance, and explain complex accounting treatments to investors. Many IR professionals have finance backgrounds or CFO experience, bringing this financial acumen to the investor communication role.

Coordination with the legal department ensures regulatory compliance for all disclosures. Attorneys review earnings releases, conference call scripts, and investor presentations to confirm accuracy and identify potential legal risks in forward-looking statements. This legal review becomes particularly important for discussions of future guidance, strategic plans, or pending transactions.

The marketing and corporate communications functions also intersect with IR, particularly for brand messaging and corporate reputation management. While IR focuses on financial stakeholders, corporate PR handles media relations, customer communications, and general public perception. These teams must coordinate to ensure consistent messaging when business developments have both investor and customer implications.

Senior management, particularly the CEO and CFO, spend significant time on investor relations activities. They participate in earnings calls, attend investor conferences, meet with major shareholders, and provide strategic direction for IR messaging. The IR team essentially serves as the operational arm executing a communication strategy developed collaboratively with executive leadership.

Frequently Asked Questions

How can I contact Build-A-Bear’s investor relations team?

Gary Schnierow, Vice President of Investor Relations and Corporate Finance, handles investor inquiries at garys@buildabear.com. This email appears on all press releases and the IR website, providing direct access for both institutional and retail investors with questions about financial performance, stock information, or shareholder services.

Where can I find Build-A-Bear’s financial reports and SEC filings?

The company’s investor relations websites at ir.buildabear.com and buildabear.gcs-web.com host all financial reports, earnings releases, investor presentations, and links to SEC filings. You can also access SEC documents directly through the EDGAR database at sec.gov using Build-A-Bear’s ticker symbol BBW or CIK number.

Does Build-A-Bear pay dividends to shareholders?

Yes, Build-A-Bear initiated quarterly dividends in fiscal 2023. As of 2025, the company pays $0.22 per share quarterly, declared by the Board of Directors each quarter. Dividend announcements specify payment dates and record dates, typically appearing in press releases about 6-8 weeks before payment.

When does Build-A-Bear report quarterly earnings?

The company reports earnings four times per year following its fiscal calendar, which ends in early February. Earnings releases publish before NYSE market open, followed by conference calls the same morning. Build-A-Bear announces specific dates approximately two weeks in advance through press releases and the IR website events calendar.

What ties all these pieces together is coordination. The IR team at Build-A-Bear doesn’t just push out press releases or host earnings calls in isolation. Gary Schnierow’s role bridges finance, legal, communications, and executive leadership, making sure investors get consistent, accurate information through the right channels at the right times. For a mid-cap retail company trading on the NYSE, this level of structured investor communication isn’t optional—it’s what keeps shareholders informed and regulators satisfied.