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January 10, 2007

I Want to Build-A-Bear

posted by MR WAVETHEORY at 1/10/2007 11:04:00 AM
Stuff the bear.
Stuff the bear.
Stuff the bear.

Build a bear.
Build a bear.
Build a bear.

If you've ever been to the Build A Bear Workshop (NYSE BBW) down at the mall, you know what I'm talking about. The raving chant of the bear builders at Build A Bear Workshop have made it a prime destination for birthday parties for toddlers. It's a cult I say. It really is.

I've been to the shops a few times and it's impossible to walk out without spending $50 for a stuffed teddy that talks, is super cuddly, and walks - actually, it won't walk.

Now, SAC Capital has joined the cult.

SAC Capital is a stakeholder in stuffed animal-maker Build-A-Bear Workshop.

The hedge fund company revealed its 5% piece in Build-A-Bear in a 13G filing. It marked the second retail holding SAC Capital disclosed this month. Last week, the $12 billion powerhouse revealed a 5.6% stake in department store Pacific Sunwear.

Founded in 1997, Build-A-Bear is a concept-driven retail chain where people can custom-make their own teddy bear. Stock in the company rose 3% after SAC Capital disclosed its stake Monday. The hedge fund outfit indicated it would be a passive investor in Build-A-Bear. The company is trading at $28.85 a share on the New York Stock Exchange.

Aside from Build-A-Bear and PacSun, Stamford, Conn., SAC Capital has in the last month been an active retail sector investor. On Dec. 29, 2006, the hedge fund stalwart bought 8.7% in Endeavor Acquisition, the shell company that bought American Apparel.

Billionaire Steven Cohen founded SAC Capital. His hedge fund company has been said to account for as much as 3% of the daily trading on the NYSE.

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2 Comments:

Blogger pete abilla said...

Yes, build-a-bear is fascinating business. We visited the store here in Provo, Utah and I was very impressed with the business.

1:42 PM  
Blogger MR WAVETHEORY said...

The business is very impressive. Hats off to the entrepreneurs who pulled it off!

2:00 AM  

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