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Stock impact report

Allbirds Stock Jumps as New CEO Touts Transformation Plan Progress [Yahoo! Finance]

Allbirds, Inc. (BIRD) 
Company Research Source: Yahoo! Finance
Despite Q1 Sales Dip, Puma Confirms Full-Year Guidance Farfetch Losses Weigh on Coupang in Q1 Allbirds said it progressed on its transformation plan during its first quarter under the leadership of its new chief executive officer, Joe Vernachio. For the first quarter, the San Francisco-based footwear company reported results in line with or better than its prior guidance. Q1 revenues dropped 27.6 percent to $39.3 million, in line with its guidance, and net loss was $20.9 million, or 18 cents per basic and diluted share, which beat its guidance range. The earnings results beat expectations of analysts surveyed by Yahoo Finance, who were looking for a loss of 21 cents per share, though revenues fell short of the $39.61 million projected. Allbirds stock was up more than 4 percent after markets closed and was trading at around 66 cents per share. Since its initial public offering in 2021, Allbirds' stock has plunged more than 90 percent. In April, Nasdaq warned the shoe brand t Show less Read more
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