Overview
- Crocs projected a 9 to 11 percent drop in current-quarter revenue, surprising analysts and triggering an intraday share slide of nearly 30 percent.
- The stock clawed back roughly 3 percent in after-hours trading but remains under pressure on the market.
- CEO Andrew Rees said US consumers are cutting back on non-essential purchases with broader spending caution persisting.
- A $40 million import tariff charge expected in the second half of the year reflects rising costs from President Trump’s trade measures.
- Despite a 3.4 percent revenue gain last quarter, Crocs recorded a $492 million net loss and faces potential demand shifts toward traditional athletic footwear ahead of major sports events.