Greg Smith: Devon Funds Head of Retail on Allbirds posting a multi-million dollar net loss
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
There's bad news for a former darling of the footwear world.
Kiwi shoe company Allbirds, co-founded by former All White Tim Brown, has posted a net loss of $19 million for the second quarter of 2024.
Greg Smith from Devon Funds says the company runs the risk of being de-listed from the Nasdaq.
"The valuation of the company was over $4 billion, the year before, they'd made over $200 million in sales. Fast forward four years, they're still at $200 million - the cool factor dissipated."
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