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Article Date: May 2024
Word Count: 317

Allbirds’ Loss Narrows as Transformation Progresses

Net loss declined 22% to $27,331,000 from a loss of $35,166,000 on sales that were down 28% to $39,327,000 from $54,352,000 for the first quarter due to lower demand, the ongoing international distributor transitions and retail store closures. BIRD’s transformation strategies began to flow through to the P&L with gross margin improving 680 b.p. to 46.9% from 40.1% on lower freight and product cost savings from factory shifts, and declining inventory write-downs on healthier inventory levels after last year’s discounting. The quarter saw a return to full-price selling with one planned ... Log in to view full article.


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