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Stock impact report

Allbirds leans on new product launches to stoke turnaround [Yahoo! Finance]

Allbirds, Inc. (BIRD) 
Company Research Source: Yahoo! Finance
Dive Brief: Allbirds Q3 net revenue fell 23.3% year over year to $33 million, mostly due to store closures and other turnaround moves, the company reported Thursday. The performance missed analyst expectations. Tariffs helped drive down gross margin, which contracted by 120 basis points to 43.2%. Higher digital and international distributor sales added to the decline, offsetting higher average selling price. The quarter ended with inventory down 25%, and net loss narrowed slightly to $20.3 million. Dive Insight: Allbirds is focused on bringing new product to market, with innovations like waterproof sneakers and comfy slippers. “Since we last spoke in August, we've delivered a steady stream of compelling products that consumers are clearly responding to,” CEO Joe Vernachio told analysts on a Thursday conference call. “Enthusiasm for our new styles continues to build.” In September, Allbirds released a wool cruiser in 19 colors, and, unlike the muted colors associated wit Show less Read more
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