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Top related persons:
Allbirds - 1 Tim Brown - 1 Joey Zwillinger - 1 we've - 1 Brown - 1 Barack Obama - 1 Zwillinger - 1 Warby Parker - 1
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4 mentions found


☆ A co-founder of Allbirds admits some of their products 'haven't quite met the mark'
  + stars: | 2023-07-16 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +2 min
Allbirds has faltered after soaring in popularity with Silicon Valley tech bros.Co-founders Tim Brown and Joey Zwillinger admit the company's missteps in appealing to consumers, WSJ reports. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "As we've tried to expand and grow the brand, we created products that haven't quite met the mark," Brown said in an interview with The Journal. In the wake of the report, Allbirds stock plummeted 47%"It's a great product," he said during the call. Up until May, Brown and Zwillinger operated the company as co-CEOs similarly to the model of fellow direct-to-consumer brand Warby Parker.
Persons: Allbirds, Tim Brown, Joey Zwillinger, we've, Brown, Barack Obama, Zwillinger, Warby Parker Organizations: bros, Service, Wall Street, The New York Times Locations: Wall, Silicon, Silicon Valley
☆ Allbirds stock crashes after the company said it lost $101 million last year and quarterly sales fell well below a year ago
  + stars: | 2023-03-09 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +2 min
Allbirds stock plummeted more than 19% Thursday within hours of a disappointing earnings report. The company reported a $101 million annual loss and a 13% quarterly drop in sales. Allbirds announced a four-part plan to restart profitability. The company also announced former Nike Chief Operating Officer Eric Sprunk joined the company's board and the appointment of Annie Mitchell as chief financial officer. Allbirds also is ramping up a new Portland office that will drive much of the new product focus.
☆ Allbirds admits missteps, unveils new strategy after brutal holiday quarter
  + stars: | 2023-03-09 | by ( Gabrielle Fonrouge | ) www.cnbc.com   time to read: +2 min
A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021. The company is betting its new strategy will reignite growth, improve capital efficiency and drive profitability in the coming years. The company said its most recent quarter was hurt by a "disappointing" holiday season. While full year net revenue increased by 7% to $297.77 million, Allbirds' net losses in its first full year as a public company ballooned to $101.35 million, more than double the $45.37 million in losses it recorded in 2021. Gross margins in the quarter decreased to 43.1% compared to 50.2% in the year ago period as selling, general and administrative expenses jumped to $41.6 million, compared to $36.7 million in the fourth quarter of 2021.
☆ These discounted e-commerce stocks could be winners this holiday season. Here’s why
  + stars: | 2022-11-24 | by ( Christina Cheddar Berk | ) www.cnbc.com   time to read: +8 min
The National Retail Federation expects holiday sales growth of about 6% to 8% over 2021 — about in line with inflation. Adobe Analytics is predicting U.S. online sales during November and December will grow 2.5% from last year. "The last few years, we actually saw an incredible amount of sales demand momentum, if you will, really early in the season." Her observations, which are based on data from hundreds of clients she works with, echo findings from Adobe Analytics, released Wednesday, that show a slow start to online sales in November. "I think [investors] should expect a continued commitment to sustainable growth and what we mean by that is sort of aggressive, ambitious growth coupled with expanding profitability," he said.
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