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Allbirds (BIRD) Reportes Third Quarter 2021 Revenue

A woman passing by the Allbirds store in the Georgetown district of Washington, DC, on Tuesday, February 16, 2021.

Al Drago | Bloomberg | Getty Images

Allbirds On Tuesday, third-quarter sales were up 33% from last year, but losses increased as the costs of opening stores and listing stocks weighed on performance.

Allbirds shares fell by more than 5% in after-hours trading, the first report of a public company.

Net losses for the three months to September 30 increased from $ 7 million (13 cents per share) in the year-ago quarter to $ 13.8 million (25 cents per share).

Revenue increased 33% from $ 47.2 million in the previous year to $ 62.7 million. Sustainable shoe makers said their revenue increased by 40% over two years.

Co-founder and CEO Joey Zwillinger said the company has shown significant strength in stores in the United States. Shoppers also responded well to the launch of products such as: Recently debuted performance apparel line..

Allbirds extends beyond the most well-known wool sneakers. Today, we sell a variety of shoes such as running sneakers, trail shoes, and high-tops. The company says it will continue to add apparel items in the hope that it will attract new customers to the Allbirds brand and convince existing customers to spend more on new items.

Allbirds is also investing in store growth to drive profitable sales. The business has grown primarily online since its inception. However, it comes with shipping costs, high return rates and other costs.

The company closed the quarter at 31 retail stores, including outside the United States. Allbirds previously stated: Only “damaged the surface” With the footprint of that physical store.

However, all of these investments are costly. This is part of the reason Allbirds is still losing money.

Selling, general and administrative expenses for Allbirds were $ 33 million, 52.6% of sales compared to 42.5% of sales for the same period in 2020. The costs associated with opening four new stores and hiring more employees contributed to the increase.

Allbirds said that 2021 net sales will range from $ 270 million to $ 272 million, ranging from 23% to 24% year-on-year.

Allbirds share is down slightly Since the company was released on November 3rd.. Tuesday’s closing price was $ 19.24, about 9% below the opening price of $ 21.21.

Find a complete earnings press release from Allbirds here..

Allbirds (BIRD) Reportes Third Quarter 2021 Revenue

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