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Lisa Foxx

Yeah!!! Croc's are DEAD!!!

 
Yeah!!! Croc's are DEAD!!!

(Getty Images)

HAVE MY PRAYERS BEEN ANSWERED????????? I ONLY thought they were ok for kids and nurses...anyone else?? NOOOOO! So ugly ;0 

The End of Crocs? Company Reports 43% Profit Decline

• Crocs, the colorful clog company, has reported a 43% decline in second-quarter profits

• The company has attributed a recent drop in sales to colder-than-normal weather and decreased consumer interest

• Perhaps the most disturbing trend for the company: a recent rise in Crocs-aficionados wearing socks with the clogs

On Thursday, Crocs shareholders suffered another blow. It was reported that analysts from Stern Agee downgraded the company from “neutral” to “underperform,” citing reduced earnings expectations and concerns over the senior executive leadership. Sam Poser, the analyst who wrote the report for Stern Agee, wrote that “unfortunately, it appears that those who concur with the top executives remain at the company, at the expense of numerous talented people who have left.”

To make matters worse, Poser noted what he regards as a conflict of interest that may be influencing sales decisions at Crocs. Poser noted that the company sold both insoles and posture cushions to backjoy.com, a company that employs several ex-Crocs executives in leadership positions. Poser argued that the close relationship may have prevented Crocs from seeking out the best deal when selling its products. In addition, Stern Agee reduced its expected earnings for the company by about 2 percent for 2013, and by nearly 10 percent for 2014. (Crocs didn’t respond to a request for comment.) Poser’s report caused a rapid sell-off of the stock, which was down nearly 6 percent at 13.18 in midday trading.

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