EXEC: Allbirds’ Shares Tumble Amid Outlook Reduction, Cost-Cutting Moves
SGB ExecutiveShares of Allbirds fell about 20 percent on Tuesday after the eco-friendly footwear company slashed its full-year guidance and announced a cost-cutting plan, including layoffs, to compensate for lower-than-planned sales. Joey Zwillinger, co-founder and co-CEO, told analysts, "“Since our May earnings call, persistently high inflation has started to take its toll on consumers.” (Read More)