2013 Financial Highlights Dollars in thousands, except per share, per store and per gross square foot data 1. For description of this financial and store data, please see the fiscal 2014 Annual Report on Form 10-K. 2. Retail gross margin represents net retail sales less cost of retail merchandise sold. Retail gross margin percentage represents retail gross margin divided by net retail sales. BBW vs. S&P 500 Retailing Index vs. S&P 500 Index for Fiscal Year 2013 8 BUILD-A-BEAR WORKSHOP, INC.  2013 ANNUAL REPORT BBW stock ended the fiscal year at $7.74, +98% higher than the start of the year while the S&P 500 finished the year +31% and the S&P 500 Retailing finished +46% compared to the start of the year. As part of our real estate optimization we closed 37 stores in 2013 ending the year with 28 fewer stores. Total revenue declined 0.5% with 28 fewer stores at year's end. $395.9 $401.5 $394.4 $380.9 $379.1 Dollars in millions NUMBER OF COMPANY-OWNED STORES At end of period 160% 140% 120% 100% 80% 60% 40% 20% 0% Dec  2012 Jan  2013 Feb  2013 Mar  2013 Apr  2013 May  2013 June  2013 July  2013 Aug  2013 Sept  2013 Oct  2013  Nov  2013 Dec  2013 Build-A-Bear Workshop S&P 500 Retailing S&P 500 STOCK PERFORMANCE TOTAL REVENUE $395.9 2009 2010 2011 2012 2013 $401.5 $394.4 $380.9 $379.1 287.2 359.0 350 2009 2010 2011 2012 2013 359 356 351 323 REVENUES  2013  2012  2011 Net retail sales  $ 373,173  $ 374,553  $ 387,041 Franchise fees  $ 3,564  $ 3,598  $ 3,391 Commercial revenue  $ 2,332  $ 2,790  $ 3,943 Total revenues  $ 379,069  $ 380,941  $ 394,375 Net loss  $ (2,112)  $ (49,295)  $ (17,062) LOSS PER COMMON SHARE Basic  $ (0.13)  $ (3.02)  $ (0.98) Diluted  $ (0.13)  $ (3.02)  $ (0.98) OTHER FINANCIAL AND STORE DATA (1) Retail gross margin (dollars)  (2) $ 153,477  $ 145,687  $ 154,468 Retail gross margin (percent)  (2) 41.1%  38.9%  39.9% Number of company-owned stores  323  351  356  at end of period North American average net retail sales per store  $ 1,080  $ 1,003  $ 1,021 North American net retail sales per gross square foot  $ 381  $ 350  $ 354 321.2