Allbirds to IPO investors: the losses will continue
September 1, 2021
Allbirds has applied to list with the Nasdaq exchange and is preparing for an initial public offering, and yet the apparel brand built on principles of sustainability is informing potential investors that it does not see profitability in the cards any time soon. The brand filed losses with the SEC of nearly $25 million in 2021, up from a net loss of $14.5 million last year. Once an e-commerce-only enterprise, management is growing its physical store footprint aggressively, seeing an opportunity to take marketshare away from Nike.
Recent News
Pickleball Expands Internationally to India
Pickleball, America’s booming sport, aims to spread its games in India, the world’s most populous country.
Amazon Prime Announces It Has Faster Deliveries
Amazon reports that its Prime deliveries are now even speedier. With over 2 billion packages reaching customers in a day or less this year, the company claims its delivery system is picking up its pace.
H-E-B Recalls Ice Cream Cups Due to Metal
The popular frozen treat has been pulled from store shelves in a voluntary company recall.
Chipotle Scraps Farmesa Fresh Eatery After Ghost Kitchen Closure
Chipotle Mexican Grill’s venture into the Farmesa Fresh Eatery concept has come to an abrupt halt following the closure of its partnering platform Kitchen United’s ghost kitchens.