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Clothing & Shoes

Allbirds sees Q3 profits fall despite strong revenues

The company also blamed costs related to its simplification initiatives, higher logistics costs, and the impact of unfavourable FX rates for the impact on its gross margin

US footwear retailer Allbirds, which operates three stores in London and a concession in Selfridges, has revealed its gross profits declined 4% in Q3 to $32.5m (£28.2m), down from $33.9m (£33.9m) the previous year.

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