The Weekly Closeout: Allbirds’ ‘AI-washing’ and Nike’s ongoing exec turnover
The footwear retailer announced a pivot no one saw coming, while another leader walked out the door at the sportswear giant.
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Aerosoles owner agrees to buy Allbirds for $39M
Sales plummeted last year and the direct-to-consumer footwear brand, which has never turned a profit, closed all full-price U.S. stores in Q1.