Allbirds’ fourth-quarter sales fell 14.5% to $72 million, the San Francisco-based sustainable footwear and apparel company stated, citing lower average selling prices and increased promotional discounting as reasons for the revenue decline, partially offsetting third-party net revenue growth. The company’s full-year net revenue for 2023 dropped 14.7% YoY to $254.1 million, leading to a net loss of $152.5 million. Co-founder and CEO Joey Zwillinger will step down, and Chief Operating Officer Joe Vernachio has been appointed as the new CEO, effective today.