By Sabela Ojea
Allbirds reported lower fourth-quarter sales amid planned store closures, and guided for another decline in its topline performance in the current quarter.
The San Francisco-based sustainable shoe and apparel maker on Tuesday posted a fourth-quarter loss of $25.7 million, or $3.23 a share, compared with a loss of $56.8 million, or $7.39 a share, for the same period a year earlier.
Quarterly revenue dropped 22% to $55.9 million, in line with Wall Street expectations. The company, which most recently guided for fourth-quarter revenue of $53 million to $59 million, said its topline performance was hit by lower unit sales through its direct-to-consumer channel and a transition in its international distribution.
Its gross margin declined around 670 basis points to around 31% due to increase freight costs and inventory adjustments, among other factors.
"We are continuing to operate with financial discipline as we focus on further advancing our plans around product, marketing, and customer experience," Chief Executive Joe Vernachio said.
For the first quarter, Allbirds expects revenue to fall to $28 million to $33 million, below the $34.9 million expected by analysts.
For the year, the company projects revenue of $175 million to $195 million from $189.8 million in 2024. Wall Street forecasts full-year revenue of $181.7 million.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 11, 2025 16:45 ET (20:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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