Build-A-Bear Workshop Needs To Fix Its Marketing To Fix Its Margins

Build-A-Bear Workshop remains a hold as margin pressures from tariffs and higher SG&A offset ongoing buybacks and store expansion. BBW's 2026 guidance implies mid-single-digit revenue growth but continued EBIT margin contraction, with tariff and marketing costs already factored in. The CEO transition appears low-risk, with the incoming CEO promoted internally and outgoing leadership providing continuity.