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Article Date: November 2024
Word Count: 370

Allbirds Cuts Guidance but Makes Progress on Costs


Restructuring efforts began to bear fruit as net loss narrowed 33% to $21,177,000 from a loss of $31,575,000 for the third quarter on 25% lower revenues of $42,996,000 down from $57,244,000. SG&A was reduced by 29%, leveraging 410 b.p. to 72.0% of sales, on lower costs across personnel, depreciation and amortization, stock-based compensation, and occupancy. Marketing spend was down 3% on lower digital ad spend. Gross margin expanded 90 b.p. to 44.4% helped by declines in freight, duty, and warehouse costs, coupled with lower inventory write-downs on healthier composition. Inventory closed ... Log in to view full article.

 


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