Allbirds sales fall by 25%, firm lowers outlook

Allbirds, the maker of woollen shoes and activewear incorporating New Zealand Merino wool and other recycled materials, reported September-quarter revenue that fell 24.9% to US$43.0 million ($71.

1m). Its net loss narrowed to US$21.2m from US$31.



6m in the third quarter of 2023 amid an ongoing restructure that has included store closures. The firm lost a cumulative US$67.6m in the first nine months of this year, versus US$95.

7m in the first three quarters of 2023. Its September Ebitda loss came in at US$16.2m from the year-ago US$19.

0m. It finished the quarter with US$78.6m in cash from the year-ago US$130m, and no borrowings from a US$50m credit facility.

.