Allbirds has reported its worst earnings to date, with stock prices adjusted for splits falling to approximately 30 cents per share. The footwear brand's fourth-quarter sales have declined significantly, attributed to its transition away from a direct-to-consumer (DTC) model. Executives indicated that while the current situation is challenging, they expect improvements as the company progresses toward a more profitable distribution strategy. The broader sneaker market is also facing difficulties, with stocks of competitors such as Deckers Brands (down 48%), Wolverine World Wide (down 45%), On Running (down 30%), and Skechers (down 29%) experiencing substantial declines.