Allbirds stock on Thursday plummeted within an hour of a disappointing earnings report that included a $101 million annual loss and a 13% drop in quarterly sales.Sales increased 7% for the year to $298 million.
On a call with analysts, Zwillinger said the company's foray into performance sneakers came up short,"It's a great product," he said."We just found out that the customers that are really in our sweet spot aren't resonating with core technical performance messaging." Nikic wrote that the company, known for its sustainable wool sneakers,"has a long potential runway for growth," but its underperforming relative to peers picking up market share, such as On, Hoka, and HeyDude. He expects Allbirds sales to increase 10% this year, down from 13%.
$110 crappy sneakers. Pass
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon HR executive hints at rehiring laid off employeesInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. The only issue is, if they already have a new job (what most of them probably already do): Why would you quit and return? Because even if you consider doing it, could you rely on Amazon to not quit you again in lets say 4 Months because their management fucked up again?
Source: BusinessInsider - 🏆 729. / 51 Read more »
The highest-paid retail jobs in the USHere are 15 of the highest-paid entry-level retail jobs in the US at brands like Buc-ee's, Costco, and Patagonia
Source: BusinessInsider - 🏆 729. / 51 Read more »
Japanese town with high birth rate charges visitors to learn whyInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Murdoch acknowledged 'Trump myth' of election fraud, court docs revealInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. the election was stolen can't think of one sentient being who wld believe him. but many non sentient that would. Oh it was stolen… killchain Kill Chain: The Cyber War on America’s Elections (2020)
Source: BusinessInsider - 🏆 729. / 51 Read more »