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Dive Brief:
Allbirds on Wednesday said its Q2 net revenue plunged 26.8% year over year to $51.6 million, in part due to the closure of 10 stores during the period.

Gross margin expanded by 770 basis points to 50.5%. At quarter’s end, inventory was down 42% to $53.7 million.

Net loss narrowed by nearly 34% to $19.1 million, according to a company press release.