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0.00577270299824529 0.00577270299824529 0.00577270299824529 0.00577270299824529 -0.00312794039111964 -0.00312794039111964 0.00195814154566037 -0.000584899422729692
Stock impact report

Allbirds is closing its last brick-and-mortar store in San Francisco [Yahoo! Finance]

Allbirds, Inc. (BIRD) 
Company Research Source: Yahoo! Finance
Once symbolic of a mid-2010s San Francisco tech bro, the shoe brand Allbirds is closing almost all of its physical stores by the end of February. Just two outlet stores in the US and two full-price stores in London will remain. “This is an important step for Allbirds, as we drive toward profitable growth under our turnaround strategy,” Allbirds CEO Joe Vernachio said in a statement. “We have been opportunistically reducing our brick-and-mortar portfolio over the past two years. By exiting these remaining unprofitable doors, we are taking actions to reduce costs and support the long-term health of the business.” The typical Allbirds wearer knows that this kind of corporate speak is a thinly veiled way to say the current financial outlook of the company isn't great. Allbirds was founded in San Francisco in 2015 and quickly became the “it” shoe among startup employees (even TechCrunch staffers once received branded grey Allbirds shoes as company swag — is our current lack of match Show less Read more
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