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Article Date: August 2023
Word Count: 301

Allbirds Losses Continue as Sales Drop 10%

The net loss narrowed slightly in Q2 to $28,937,000 from a loss of $29,368,000 a year ago, as the top line declined by 10% to $70,480,000 from $78,174,000 at the struggling sustainable sneaker maker. Lower selling prices accounted for the revenue falloff, BIRD said, as it moved to clear inventory with promotions. Interestingly, gross margin still expanded by 670 basis points to 42.8%, lapping big inventory write-downs last year, as well as benefitting from lower freight costs and more international sales. Inventory ended the quarter down 21% from the beginning of ... Log in to view full article.


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