Allbirds Announces Inclusion in the Russell 3000® Index
SAN FRANCISCO, June 24, 2022 (GLOBE NEWSWIRE) -- Allbirds, Inc. (NASDAQ: BIRD), a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the U.S. market opens on June 27, 2022, according to a preliminary list of additions posted on June 3, 2022.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 6, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
“We are honored to be included in the Russell 3000®, which represents a meaningful milestone for Allbirds. This achievement is the result of the hard work our team puts in every day as we strive to reverse climate change through better business by empowering people to make better, more conscious decisions for themselves, as well as the planet. Allbirds’ inclusion in the Russell indexes so soon after the completion of our November 2021 IPO is an important step in our public company journey, and we believe this recognition will allow us to further broaden our reach within the investment community as we continue to focus on building long-term shareholder value,” said Joey Zwillinger, Co-Founder and Co-CEO of Allbirds.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Allbirds, Inc.
Headquartered in San Francisco, Allbirds is a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, while treading lighter on the planet. The Allbirds story began with superfine New Zealand merino wool and has since evolved to include a eucalyptus tree fiber knit fabric and a sugarcane-based EVA foam (SweetFoam®). Allbirds serves customers across 35 countries through 43 Allbirds stores and its e-commerce website, www.allbirds.com.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions and on information currently available to management. All statements other than statements of historical facts, including statements regarding Allbirds’s inclusion in the Russell 3000® Index following the conclusion of the annual reconstitution and the potential inclusion in the other indexes referenced above, our market position, and our business strategy and plans, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to, (1) any changes to the preliminary inclusion list published on June 3, 2022, which includes Allbirds, including, without limitation, the removal of Allbirds from inclusion in the Russell 3000® Index for 2022; (2) our eligibility for membership in the Russell 3000® Index in subsequent years; (3) the ability of our inclusion in the Russell 3000® Index, or any other index, to broaden awareness with the investment community at the level anticipated, or at all; (4) the impact of the COVID-19 pandemic; (5) economic uncertainty in our key markets; (6) the strength of our brand; (7) our reliance on technical and materials innovation; (8) our use of sustainable materials and environmentally friendly manufacturing processes and supply chain practices; and (9) the impact of climate change and government and investor focus on sustainability issues.
Further information on these risks and other factors that could cause our financial results, performance, and achievements to differ materially from any results, performance, or achievements anticipated, expressed, or implied by these forward-looking statements is included in the filings we make with the SEC, including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and future reports we may file with the SEC from time to time. The forward-looking statements contained in this press release relate only to events as of the date stated or, if no date is stated, as of the date of this press release. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in or expressed by, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments.