Allbirds Enters Next Phase of Transformation.

Allbirds, a San Francisco-based footwear company, is entering the next phase of its transformation journey after reporting a 26.8 percent drop in second-quarter revenues to $51.6 million. The company's net loss was $19.1 million, in line with expectations. Allbirds has implemented a business turnaround plan focused on revamping products, optimizing distribution, and improving cost savings. The company aims to return to topline growth in 2025 by focusing on product, storytelling, and shopping experience. [Extracted from the article]