Shares of Allbirds Inc. birds fell around 4% in the extended session Wednesday after the footwear and apparel maker beat fourth-quarter expectations but called for slightly lower sales in the current quarter. Allbirds said it lost $10.4 million, or 9 cents a share, in the quarter, compared with a loss of $9.4 million, or 18 cents a share, in the fourth quarter of 2020. Sales rose 23% to $97.2 million, thanks to “strong” U.S. demand during the holidays and the company’s “strongest” new-product line-up for the year, Allbirds said. FactSet consensus called for losses of 9 cents a share on revenue of $92 million. Fourth-quarter revenue was the company’s largest on record, co-founder and Chief Executive Joey Zwillinger said in a statement. “Our results reflect strong global demand for the Allbirds brand and best-in-class execution by our teams during a period of ongoing macro challenges.” Allbirds guided for full-year 2022 revenue between $355 million and $365 million, which would represent growth between 28% and 32% as compared with fiscal 2021. For the first quarter, it called for revenue between $60 million and $62 million, which would represent growth between 21% and 25% as compared with the first quarter of fiscal 2021. The analysts surveyed by FactSet expect first-quarter revenue of about $64 million.
Source: Marketwatch
