There's bad news for a former darling of the footwear world.

Kiwi shoe company Allbirds, co-founded by former All White Tim Brown, has posted a net loss of $19 million for the second quarter of 2024.

Greg Smith from Devon Funds says the company runs the risk of being de-listed from the Nasdaq.

"The valuation of the company was over $4 billion, the year before, they'd made over $200 million in sales. Fast forward four years, they're still at $200 million - the cool factor dissipated."

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There's bad news for a former darling of the footwear world.
Kiwi shoe company Allbirds, co-founded by former All White Tim Brown, has posted a net loss of $19 million for the second quarter of 2024.
Greg Smith from Devon Funds says the company runs the risk of being de-listed from the Nasdaq.
"The valuation of the company was over $4 billion, the year before, they'd made over $200 million in sales. Fast forward four years, they're still at $200 million - the cool factor dissipated."
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With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Greg Smith: Devon Funds Head of Retail on Allbirds posting a multi-million dollar net loss

One council member believes Auckland Council needs to rethink its plan to slash transport emissions by 2030.

The council aims to halve car use, encourage a 13-fold increase in cycling, and increase public transport trips from 100 million a year pre-Covid to 550 million.

Auckland Councillor Daniel Newman says these ideas need to be shelved in favour of something more realistic.

"What we have is a multi-billion dollar price tag for investment in public transport infrastructure, for the reallocation of our road corridors for cycleways, for the kind of intensive urban design planning that would be necessary to give effect to that - much of this is unfunded."

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One council member believes Auckland Council needs to rethink its plan to slash transport emissions by 2030.
The council aims to halve car use, encourage a 13-fold increase in cycling, and increase public transport trips from 100 million a year pre-Covid to 550 million.
Auckland Councillor Daniel Newman says these ideas need to be shelved in favour of something more realistic.
"What we have is a multi-billion dollar price tag for investment in public transport infrastructure, for the reallocation of our road corridors for cycleways, for the kind of intensive urban design planning that would be necessary to give effect to that - much of this is unfunded."
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Daniel Newman: Auckland Councillor rubbishes council's emissions targets scheme

Tonight on The Huddle, Nick Mills from ZB's Wellington Mornings and Toby Manhire from the Spinoff joined in on a discussion about the following issues of the day - and more!

Courts will be able to ban gang members from wearing patches in the home thanks to an amendment the Government made to the bill. Is this a step too far?

Winstone Pulp International announced its pulp and saw mills in the Ruapehu District will close indefinitely - putting more than 200 people out of work. Should the Government have gotten involved and saved the mills?

Are we getting too gloomy? A new piece by Pattrick Smellie from BusinessDesk says New Zealand's gotten too unhappy recently. Are we right to complain about the economic and social issues?

The Australian Government is looking at banning social media for kids, with legislation to arrive by the end of the year? Is this the right move?

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Tonight on The Huddle, Nick Mills from ZB's Wellington Mornings and Toby Manhire from the Spinoff joined in on a discussion about the following issues of the day - and more!
Courts will be able to ban gang members from wearing patches in the home thanks to an amendment the Government made to the bill. Is this a step too far?
Winstone Pulp International announced its pulp and saw mills in the Ruapehu District will close indefinitely - putting more than 200 people out of work. Should the Government have gotten involved and saved the mills?
Are we getting too gloomy? A new piece by Pattrick Smellie from BusinessDesk says New Zealand's gotten too unhappy recently. Are we right to complain about the economic and social issues?
The Australian Government is looking at banning social media for kids, with legislation to arrive by the end of the year? Is this the right move?
LISTEN ABOVE

The Huddle: Should the Government have saved the Ruapehu mills?

On the Heather du Plessis-Allan Drive Full Show Podcast for Tuesday, 10 September 2024, hundreds of people will lose their jobs in a huge blow to the Ruapehu district. Mayor Weston Kirton tells Heather he's gutted the Government wasn't able to broker a deal.

Donald Trump and Kamala Harris are about to square off for the first time in a presidential debate. Former debate moderator Dominic Carter reckons Kamala has a lot to lose.

Australian kids are going to be banned from using social media - but will this ban actually be enforceable?

Plus the Huddle debates whether New Zealanders just need to cheer up a bit and stop being so gloomy.

Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

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On the Heather du Plessis-Allan Drive Full Show Podcast for Tuesday, 10 September 2024, <a href="https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/weston-kirton-ruapehu-mayor-on-winstone-pulp-international-shutting-down-central-north-island-mills/">hundreds of people will lose their jobs in a huge blow to the Ruapehu district. Mayor Weston Kirton tells Heather he's gutted the Government wasn't able to broker a deal.</a>
Donald Trump and Kamala Harris are about to square off for the first time in a presidential debate. <a href="https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/dominic-carter-former-us-debate-moderator-ahead-of-donald-trump-and-kamala-harris-pennsylvania-debate/">Former debate moderator Dominic Carter reckons Kamala has a lot to lose.</a>
Australian kids are going to be banned from using social media -<a href="https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/lisa-given-royal-melbourne-institute-of-technology-professor-on-australia-committing-to-national-social-media-age-limits/"> but will this ban actually be enforceable?</a>
Plus the Huddle<a href="https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/the-huddle-should-the-government-have-saved-the-ruapehu-mills/"> debates whether New Zealanders just need to cheer up a bit and stop being so gloomy.</a>
Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.
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Greg Smith: Devon Funds Head of Retail on Allbirds posting a multi-million dollar net loss

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