Allbirds’ Sales Dip Continues in 2024, Losses Narrow
Allbirds’ revenue dropped 28 percent year over year to $39 million in the first quarter of the year as demand for its sneakers remains weak, the company reported on Wednesday.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
The surge in demand, and share price, may not live up to sales growth predictions.
New US legislation could cause an exodus of Chinese tech giants from American stock exchanges. At a time when fashion companies are more reliant than ever on these e-commerce players the stakes are high.
The e-commerce platform's potential listing could come as early as the second half of the year.
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Without a reliable revenue stream, retailers with ample cash on hand are better positioned to weather the storm, analysts say. But some categories are faring better than others, like sportswear and heritage luxury.
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Trading on US stock exchanges was halted immediately after opening, as the benchmark S&P 500 fell to its lowest since June 2019.
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The luxury e-commerce platform's owner Neiman Marcus is working with Morgan Stanley on the planned listing, which could take place as early as April, according to people familiar with the matter.
The ailing American department store chain's CEO is shifting the company's strategic priorities in attempts to tackle its $154 million first-quarter financial loss.
Shares of the denim company sank as much as 6.6 percent after Goldman Sachs issued its first sell rating.
The luxury reseller made its stock market debut selling 15 million shares for $20, with the company valued at around $1.6 billion.
Allbirds’ revenue dropped 28 percent year over year to $39 million in the first quarter of the year as demand for its sneakers remains weak, the company reported on Wednesday.
After rallying more than 120 percent last year, Shopify shares have struggled this year after the company had projected higher operating costs than expected for this quarter.
The online fashion specialist said it had built up net debts of £95m in the year to the end of February – down from almost £6m of net cash a year before – after losses widened 76 percent to £160 million.
Levi notified a federal judge in Oakland, California on Tuesday that it was dismissing the case with prejudice, meaning it cannot be brought again. Settlement talks began shortly after Levi sued in January.
Demand for retro shoe styles such as 'terrace' has helped boost sales of sportswear brands like Puma and its rival Adidas at a time when the sector has been hit by weaker consumer demand and excess stocks.
Kenvue beat Wall Street estimates for first-quarter profit on Tuesday, and said it would cut 4% of its global workforce amid the Tylenol and Band-Aid maker’s efforts to expand its key brands.
Vhernier is small but Richemont has a history of turning small brands into success stories
The company has argued that the law will stifle free speech and hurt creators and small business owners who benefit economically from the platform.