{"id":7775,"date":"2022-11-09T15:31:53","date_gmt":"2022-11-09T15:31:53","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/allbirds-profits-slip-despite-strong-revenues\/"},"modified":"2022-11-09T15:31:53","modified_gmt":"2022-11-09T15:31:53","slug":"allbirds-profits-slip-despite-strong-revenues","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/allbirds-profits-slip-despite-strong-revenues\/","title":{"rendered":"Allbirds profits slip despite strong revenues"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" class=\"entry-thumb\" src=\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2022\/11\/adidas-allbirds-futurecraft-footprint-trainer_dezeen_2364_col_3.jpg\" srcset=\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2022\/11\/adidas-allbirds-futurecraft-footprint-trainer_dezeen_2364_col_3.jpg 600w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2022\/11\/adidas-allbirds-futurecraft-footprint-trainer_dezeen_2364_col_3-300x200.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" alt=\"Allbirds has reported a rise in net revenues but a drop in gross profits for the third quarter of 2022.\" title=\"Allbirds has reported a rise in net revenues but a drop in gross profits for the third quarter of 2022.\"\/><\/div>\n<div class=\"td-a-rec td-a-rec-id-content_top  td-rec-hide-on-m tdi_17_e7e td_block_template_1\"> <noscript>  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/track.adform.net\/adfserve\/?bn=58816468;srctype=4;ord=%5Btimestamp%5D\" border=\"0\" width=\"728\" height=\"90\" alt=\"\"\/>  <\/noscript><\/div>\n<h6><span style=\"color: #ff6600;\">\/\/<\/span> Allbirds sees gross profits for the quarter slip 4% year on year to \u00a328.14m<\/h6>\n<h6><span style=\"color: #ff6600;\">\/\/<\/span>\u00a0The brand blamed the declining profits Covid restrictions in China, a decrease in consumer spending amid the cost of living crisis and unfavourable currency exchange rates<\/h6>\n<hr\/>\n<p>Allbirds has reported a rise in net revenues but a drop in gross profits for the third quarter of 2022.<\/p>\n<p>The US footwear retailer saw a 16% year-on-year rise in revenues during Q3 2022, reaching \u00a363.2 million \u2013 a 54% increase compared to the same period in 2020.<\/p>\n<p>But gross profits for the quarter fell 4% year on year to \u00a328.14m and for the year to date, gross profit slipped 4.6% to $93.3m.<\/p>\n<hr\/>\n<h5><strong>Subscribe to Retail Gazette for free<\/strong><\/h5>\n<p><span class=\"x_al\">Sign up\u00a0here\u00a0to g<\/span><span class=\"x_al\">et the latest news straight into your inbox each morning<\/span><\/p>\n<hr\/>\n<p>For the nine months up to 30 September, net revenue rose 18.5% year on year to $213.6m\u00a0 and 52.5% on a two-year comparison.<\/p>\n<p>The business said the rise in revenues was due to\u00a0increases in the number of orders and average order value.<\/p>\n<p>The retailer blamed Covid restrictions in China, as well as the slump in consumer spending amid the cost of living crisis and unfavourable currency exchange rates.<\/p>\n<p>Allbirds chief executive Joey Zwillinger said: \u201cWe delivered a strong quarter in what remains a highly dynamic operating environment. I am proud that we exceeded our Q3 adjusted revenue and adjusted EBITDA guidance targets while also delivering on our sustainability goals.<\/p>\n<div class=\"desktop-ad\">\n<p>\u201cLooking ahead to year end and 2023, we continue to expect macro headwinds to persist but believe that our brand, our growth strategy, and simplification initiatives position us well to emerge strongly from this period.\u201d<\/p>\n<\/div>\n<p><em><strong>Click here to sign up to Retail Gazette\u2018s free daily email newsletter<\/strong><\/em><\/p>\n<\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\/\/ Allbirds sees gross profits for the quarter slip 4% year on year to \u00a328.14m \/\/\u00a0The brand blamed the declining profits Covid restrictions in China, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-7775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/7775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=7775"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/7775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/7776"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=7775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=7775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=7775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}