Bark Inc Stock Price, News & Analysis

BARK, Inc. (NYSE: BARK) has announced the immediate addition of Paulette Dodson and Michele Meyer to its Board of Directors. Ms. Dodson brings extensive legal and corporate governance experience, having served in senior roles at Alight, PetSmart, and Sara Lee. Meanwhile, Ms. Meyer has over 30 years of experience in the CPG industry, notably as President at General Mills, where she led significant market growth. Both executives aim to leverage their backgrounds to enhance BARK's strategic initiatives and foster long-term growth. CEO Matt Meeker emphasized their potential to drive value for customers and shareholders.

BARK, Inc. (NYSE: BARK), a leading brand focused on dog happiness, announced CEO Matt Meeker's participation in two upcoming investor conferences. The first is the UBS 12th Annual Global Consumer and Retail Conference on March 16, 2023, at 10:00 am ET in New York City. The second is the Canaccord Genuity eCommerce Sustainable Advantage Forum on March 23, 2023, at 12:30 pm ET, held virtually. Interested investors can access the live webcasts at investors.bark.co, with replays available for 90 days post-event. BARK aims to enhance dog happiness through tailored products and services.

BARK, Inc. has announced a cost reduction initiative aimed at generating approximately $12 million in annual savings, which includes a 12% workforce reduction affecting 126 employees. In the fiscal third quarter ended December 31, 2022, the company reported revenue of $134.3 million, in line with expectations but down 5% year-over-year. Despite challenges, positive operating cash flow of $5.1 million was achieved, with gross margin improving to nearly 60%. Looking ahead, BARK projects Q4 revenue at $121 million and full-year revenue at $530 million, lowering previous guidance. Adjusted EBITDA is projected at $(31 million), reflecting a 47% improvement from fiscal 2022.

BARK, Inc. (NYSE: BARK) will report its third quarter fiscal year 2023 financial results on February 9, 2023, after market close. A live conference call is scheduled for 4:30 p.m. ET on the same day. Investors can access the call by calling 646-904-5544 for U.S. participants or +1-929-526-1599 for international participants, using passcode 204462. The call will also be available via a live audio webcast on BARK’s investor website, which will be archived for one year.

BARK is dedicated to enhancing dog happiness through innovative products and services. Founded in 2011, the company offers themed toy subscriptions, high-quality food, and dental care solutions to dog owners nationwide.

BARK, Inc. announces the appointment of Zahir Ibrahim as Chief Financial Officer, effective immediately. With nearly 30 years of financial leadership experience, including roles at KIND LLC and Annie’s Inc. (NYSE: BNNY), Ibrahim brings expertise in scaling consumer brands. His addition is viewed as a significant milestone as BARK seeks to enhance its position in the market and drive profitability. The company expressed gratitude to former Interim CFO Howard Yeaton for his contributions during the transitional phase.