Having followed the company's goings-on over the past few months (here and here), I finally got a pair of Crocs a few weeks ago. I guess my little vote of confidence didn't do much good. Last Wednesday, Crocs stock lost 36% of its value, slicing about $2.2 BB off its market cap. Ouch! (again). Crocs had reported that
its inventories had quadrupled from a year ago, and it failed to increase its quarterly earnings forecast as it had consistently done in the past. Traders apparently read this as a sign of slowing growth. Sales have grown from $24,000 in 2002 to an expected $820-$830 MM this year. Before Wednesday's bath, Crocs stock had soared to six times its initial offer price from February 2006. Wednesday night, Crocs' board approved a program to buy back as many as a million shares of its common stock (out of 82 million outstanding).
Careful. Crocs bite.
[Clip art licensed from the Clip Art Gallery on DiscoverySchool.com.]
TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8345157d569e200e54f8c7aa38834
Links to weblogs that reference Crocs Watch:
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 |
