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A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021.
Al Drago | Bloomberg | Getty Images
Footwear retailer Allbirds on Thursday unveiled a broad overhaul of its strategy and an executive shake-up after failing to post year-over-year quarterly sales growth for the first time in its history.
Shares of Allbirds plummeted during off-hours trading. As of Thursday’s close, shares of the company have fallen 3.5% so far this year to $2.36, giving it a market value of $352.5 million.
The retailer, which had been in the process of a broad brick-and-mortar expansion that it’s now winding down, was candid about its failures. The company is…
Source cnbc.com
