Allbirds’ sales growth ‘disappointing’ given store expansion

Dive Brief: Allbirds beat its earnings expectations and grew revenue by 16% in Q3, reaching $72.7 million. At the same time, net loss nearly doubled to $25.2 million, according to a company press release.
Link: Allbirds’ sales growth ‘disappointing’ given store expansion | Retail Dive

Some clouds ahead but still a path forward.

“They’re facing a tough macro environment, but they seem committed to bringing margins up and narrowing losses next year, and we think the brand will benefit from the exposure created by high-quality wholesale distribution and growth of brick-and-mortar stores,” Nikic said. “And with $180 million of net cash, we think they have adequate liquidity to get through the currently challenging macro environment. We concede that money-losing businesses aren’t very attractive to investors right now, but we think long-term risk/reward is skewed positively here.”