Allbirds to Close Remaining US Stores, Focus on E-commerce and Wholesale

Allbirds will close its remaining full-price stores in the US by February, focusing on e-commerce, wholesale, and international distributorships. This move aims to boost profitability and reduce costs. The closures will preserve two outlet stores in the US and two full-price doors in London. Allbirds reported a 23.3% net revenue decline in Q3 and a net loss of $20.3 million. The company will discuss the financial impact during its Q4 and full-year earnings conference call in March.