The sales of the independent station soared by 23%, and it said that it would continue to raise prices.

According to foreign media reports, Allbirds' stock price plummeted in after-hours trading on Wednesday . Although its sales in the fourth quarter increased by 23%, its profits were not significant due to the increase in various costs.

The company stated that the main reasons affecting its profits were: rising logistics costs, temporary labor shortages caused by the epidemic, the opening of retail stores, and an increase in the number of employees!

The company reported fourth-quarter revenue of $97.2 million, up from $79.3 million a year ago , beating expectations for $91.8 million.

In 2021, Allbirds' e-commerce business grew 16% year-on-year , accounting for more than 80% of total revenue . At the same time, Allbirds said that after a small price increase last year, consumer demand has not actually decreased, and prices will continue to increase in 2022!

For 2022, Allbirds forecast revenue of $355 million to $365 million. Analysts had expected $353 million. Adjusted losses (before interest, taxes, depreciation and amortization) are expected to be between $9 million and $13 million, including an estimated $8 million in public company costs.

It is understood that Allbirds' stock has plummeted 60% since its first transaction of $21.21 when it was listed on the Nasdaq in November last year . The stock price hit a historical intraday low of $7.98 on Wednesday.

During the conference call, management pointed to upcoming efforts it hopes will boost sales and profitability. Allbirds said it plans to move further into wholesale through third-party sales, but did not name the specific business.

Co-founder Tim Brown added that Allbirds will continue to innovate, launch new footwear and apparel , increase customer repurchase rates and attract more new customers .

Last week, Allbirds announced the debut of its own resale platform, Allbirds ReRun, which it expects will lead to higher repurchase rates and brand loyalty. Through the program, the retailer will offer points to people who exchange their used Allbirds shoes.

The company said it will take "prudent pricing actions" in 2022 to combat inflation, which should add 1% to 3% to revenue growth in 2022 .

Independent website

Loss

Price increase