Retail News

Allbirds to IPO investors: the losses will continue

CNBC 08/31/2021

Allbirds has applied to list with the Nasdaq exchange and is preparing for an initial public offering, and yet the apparel brand built on principles of sustainability is informing potential investors that it does not see profitability in the cards any time soon. The brand filed losses with the SEC of nearly $25 million in 2021, up from a net loss of $14.5 million last year. Once an e-commerce-only enterprise, management is growing its physical store footprint aggressively, seeing an opportunity to take marketshare away from Nike.

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