A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021.
Al Drago | Bloomberg | Getty Images
Allbirds on Monday cut its financial forecast for the year and announced a number of efforts to cut costs as the sustainable shoe maker reported a wider quarterly loss compared with a year earlier.
The company citied a slowdown in consumer spending toward the end of June and said it has “dramatically” slowed the pace of corporate new hires and backfills for departing employees. It said it has cut its global corporate workforce by about 8%, or 23 people.
Chief Financial Officer Mike Bufano said the retailer anticipates any external headwinds pressuring consumer spending in the United States will persist in the back half of 2022. “As a result, we continue to take a cautious outlook,” he said in a statement.
Allbirds shares fell more than 10%…
