BARK Inc. (NYSE: BARK) announced cost reduction initiatives expected to generate up to $28 million in annual savings, according to a company press release. The dog products company completed the measures during the fourth quarter of fiscal year 2026.

The savings consist of approximately $26 million from workforce reductions and operational efficiencies across sales, marketing and administrative functions. The company plans to increase automation and artificial intelligence tools while streamlining partnerships with external and offshore vendors. An additional $2 million in savings will come from reducing corporate office space.

"Over the past few months, we conducted a comprehensive review of the business with the goal of streamlining our cost structure that leverages our investments in Artificial Intelligence technologies and key strategic relationships," said Matt Meeker, chief executive officer of BARK.

The company also disclosed it may receive approximately $15 million in tariff refunds following a U.S. Supreme Court ruling on February 20, 2026, that determined tariffs imposed under the International Emergency Economic Powers Act were not legally authorized. The Court of International Trade subsequently ordered refunds to be paid.

BARK has paid approximately $15.4 million in incremental tariffs, with $10.5 million allocated to cost of goods sold for the fiscal year ending March 31, 2026. U.S. Customs and Border Protection announced plans to implement a refund processing system with a target launch date of late April 2026.

The company noted that the timing and amount of any tariff refunds remain uncertain and subject to administrative implementation and potential legal proceedings.