Build-A-Bear Workshop Inc. (NYSE:BBW) Q2 2020 Earnings Conference Call - Final Transcript

Sep 01, 2020 • 09:00 am ET

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Build-A-Bear Workshop Inc. (NYSE:BBW) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings. Welcome to the Build-A-Bear Workshop's Second Quarter 2020 Earnings Call. [Operator Instructions] Please note this conference is being recorded.

At this time, I'll now turn the conference over to Allison Malkin of ICR. Allison, you may begin.

Executive
Allison Malkin

Good morning. Thank you for joining us. With me today are Sharon Price John, CEO; and Voin Todorovic, CFO. For today's call, Sharon will begin with the discussion of our second quarter 2020 performance and our positioning and actions in response to the COVID-19 pandemic. After, Voin will review the financials in more detail. We will then open the call to take your questions. We ask that you limit your questions to one question and one follow-up. This way, we can get to everyone's questions during this one-hour call. Feel free to re-queue if you have further questions.

Members of the media who may be on our call today should contact us after this conference call with your questions. Please note the call is being recorded and broadcast live via the Internet. The earnings release is available on the Investor Relations portion of our corporate website. A replay of both our call and webcast will be available later today on the IR site.

The COVID-19 pandemic continues to have a significant impact on our operations, cash flow and financial position. The uncertain and dynamic nature of current conditions and its ongoing impact could materially alter our outlook.

I will remind everyone that forward-looking statements are inherently subject to risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in the Risk Factors section in the Company's Annual Report on Form 10-K. We undertake no obligation to revise any forward-looking statements.

And now, I would like to turn the call over to Sharon.

Executive
Sharon Price John

Thank you, Alison. Good morning, everyone, and thanks for joining us today. As we continue to move forward in a very different and challenging world after initially focusing on responding to and managing the immediate circumstances driven by COVID-19, including the closure of all of our retail locations, we have rapidly shifted our attention to leverage the current situation to accelerate our strategic initiative to successfully operate in both the near and long term.

During this time of accelerated change, we have increasingly relied on our experience, data resources and technological capabilities to drive our strategy forward with a goal to profitably diversify and monetize the power and affinity of our brand. Our belief in the value that the Build-A-Bear brand brings to the world and the opportunity that it presents remains strong even in an ongoing era of uncertainty that demands agility and flexibility from companies everywhere.

As we continue to operate with a reduced corporate workforce that is primarily working from home, we have grounded the organization to remain focused on three key areas that we believe are critical to steer us through the current environment, while also positioning the Company for the future, in line with