Case Study

making smiles
20 0 9 A N N UA L REP O RT

haring S

Every interaction with our beary special brand makes you smile. For kids, it’s the empowerment and creativity of making their own stuffed animal friend...from choosing it, making a wish on its heart and creating its personality with hundreds of outfits and accessories. And for moms, it’s knowing she can say YES and have fun too because it’s a good value. This experience connects families to their new furry friend and to our brand for life. And most importantly makes them...and us...smile.

miles s

WELCOME Our beary fun and interactive stores have a theme-park in a mall like environment with larger-than life customized teddy bear fixtures and eight interactive bear-making stations.

Company Profile
Build-A-Bear Workshop, Inc. is the leading and only global company that offers an interactive make-your-own stuffed animal retail-entertainment experience. Founded in 1997 the company and its franchisees currently operate more than , 400 stores worldwide, including company-owned stores in the United States, Puerto Rico, Canada, the United Kingdom, Ireland and France, and franchise stores in Europe, Asia, Australia, Africa and the Middle East. The company extends its in-store interactive experience online with its award winning virtual world at
® buildabearville.com. Build-A-Bear Workshop (NYSE: BBW) posted total revenue

of $394.4 million in fiscal 2009. The company was named to the 2010 & 2009 FORTUNE 100 Best Companies to Work For ® list. For more information,
® call 888.560.BEAR (2327) or visit buildabear.com.

MAXINE CLARK ARK Founder, Chairman, and Chief Executive Bear

BUILD-A-BEAR WORKSHOP, INC.

LETTER TO SHAREHOLDERS

financial highlights
(dollars in thousands, except per share, per store, and per gross square foot data)

Fiscal year (1) Revenues:

2009

2008

2007

Net retail sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 388,552 Franchise fees . . . . . . . . . . . . . . . . . . ....