Allbirds will replace its CFO.
Mike Bufano is set to step down as the D2C footwear brand scales back its brick-and-mortar store openings.
Allbirds' net revenue for Q4 fell by 13.4% YoY to $84.2M.
- The company's net loss grew by 138% to $24.9M.
- Costs related to new store openings contributed to an increase in SG&A expenses, which rose to $166.7M in 2022.
- Co-founder and co-CEO Joey Zwillinger said on Thursday that Allbirds plans to "significantly" slow down the pace of store openings in the coming year.
- Annie Mitchell is set to replace Mike Bufano as CFO of Allbirds on April 24.
