Allbirds tops revenue estimates on robust demand

This post was originally published on this site

Consumers returning to pre-pandemic routines after staying at home for months have been splurging on sneakers for running and hiking, driving up sales of shoemakers.

Allbirds, a favorite of Silicon Valley workers, has also benefited from a shift towards environmentally-friendly brands among Gen Z and millennial shoppers. The shoemaker uses wool and other plant-based alternatives in its products.

The company’s sales rose 23% to $97.2 million in the fourth quarter, beating analysts’ estimates of $91.76 million, according to Refinitiv IBES data.