Allbirds enters next phase of transformation as losses narrow despite revenue dip

For the second quarter ended June 30, 2024, sports footwear brand Allbirds continued to tackle declining revenues amid an ongoing transformation plan that is now embarking on its next phase. While some positivity could be seen in narrowing losses for the period, which dropped to 19.1 million dollars from 28.9 million dollars in the same period of the year prior, net revenue took a 26.8 percent hit, falling to 51.6 million dollars compared to its previous 70.5 million dollars.