crocs in financial trouble

[starwood]

This was on AOL that there are 12 business they don't think will last until the end of the year and one was crocs.

"Crocs (CROX) sold the fastest growing footwear in America at one point. In late 2007, the company’s shares traded at more than $72. Now they change hands at well below $2. At the end of March, Crocs got a six-month extension of a critical credit facility. According to Reuters, “Crocs Inc averted a cash crunch by winning an 11th-hour credit facility extension with a California bank, but analysts say the jury is still out on whether the struggling brand can turn around.” Two weeks before the credit extension, the company’s auditors gave the firm a “going concern” letter, an indication that there would be reasonable chance that Crocs would make it another year. In the fourth quarter of 2008, Crocs lost $43 million after making $55 million in the same period the year before. Revenue fell from $225 million in the last quarter of 2007 to $126 million. Crocs won’t make it through the year."

I guess I should stock up now.

 

[carmiedog]

I'm guessing it probably isn't crocs popularity, but the fact that they've been undermined by all the knock-offs. (I don't think that crocs are THE original, but I'm pretty sure they're the first to hit the masses like that.) I try not to buy the wal-mart version, but a lot of people unfortunately don't have that choice. I don't see crocs disappearing, but I could see them either being bought out or shrinking the company.

Now, I've got another reason to buy 4 new pair for my family before our June trip.

 

[wilde_oscar]

much like Krispy Kreams, they grew too much too fast... they grew to meet the demand, and have gotten over extended.

 

[jb01]

Crocs are some of my favorites. I'll do my part and buy a few more pairs

 

[kaffinito]

If there are no more Crocs then I'll have naked feet forever...

Seriously though, I really should stock up while I can - I don't wear anything else on my feet unless I absolutely have to. I own so many pairs that I stopped counting at 13 pairs. I have shoes for winter, spring, summer, hiking, the beach, gardening, WDW, you name it. I even own the dressy Crocs.

Do you think I have a problem?!?

 

[JGoin]

That's terrible to hear, but much too often in our current worldly market!

I, too, will NOT buy a pair of knock-offs... they have rubbed just too many blisters on my kids' feet! Time to stock up, with their free shipping through this month!... off any amount, use 09olivia code for free shipping!

 

[marcyinPA]

I wonder if this is the reason that I can't find any colors but black, brown and navy for my DS9? He's in an adult small. I checked the Bon Ton and Dicks and they both had really crummy selections!! Barely any colors at all.

 

[eliza61]

Oh thank God. hate the idea of people losing their jobs but they are one uggggly shoe.
LOL

 

[wall*e2008]

This was another of those fly by companies that over expanded. I own a pair of Crocs and they are not all that. I only use them to go out into the yard. I will never buy another pair. I do think the Jibbitz are fun.

 

[mdoc]

My theory is that it has nothing to do with knock-offs (which in most cases are a very poor substitute) and everything to do with too much expansion and a bad economy. There is a mind numbing number of Crocs styles now. I suspect that had they stuck to the original styles they had there would be less debt and less risk of going under. Innovation and growth can be a two edged sword. Luckily I just picked up a new pair of Disney crocs to replace my Caymans that were practically worn through.

 

[DisneyPolve]

This was another of those fly by companies that over expanded. I own a pair of Crocs and they are not all that. I only use them to go out into the yard. I will never buy another pair. I do think the Jibbitz are fun.

They have been out at least 6 years, so I don't think you can classify them as a "fly by company". The problem is other brands starting making a more affordable look-a-like; unfortunately the look-a-like are less comfortable, less durable and make my feet sweet. I wear them to the beach and garden work, what I will really miss is Mammoth Crocs!!! My entire family wears them religiously throughout the winter months as house shoes, if they go out of business I will be buying 10 pairs each for everyone!!!!

 

[diskids2]

Well I needed a new pair for our July trip so I just ordered one...white...beach....THANKS for the free shipping code...I saved $6.99.

 

[MelanieC]

They should have just stuck with the regular crock and maybe the flip flop - they started making too many types.

 

[michelle1]

Where I live about a month ago there was a big warehouse sale...Crocs were $10 (kids) and $15 (adults) and the following weekend they were reduced to $5. I bought a pair of Mammoths and Athens but now hearing this I should have scooped a whole bunch.

 

[mickey0624]

I know these are the most popualr shoes out there and my wife and daughter love them, but I find them to be the most uncomfortable things I have ever put on. I boiught a pair last year, wore them one day and took them back. I'll take my sneakers any day.

 

[CarolA]

I think it was a "fad" and it's mainly over.

And sorry but those are the MOST uncomfortable shoes I have ever tried to wear at Disney! My Mickey ones go to and from the pool ONLY. So the view on here that these are the "greatest" thing ever is not always correct!

 

[rie'smom]

They should have just stuck with the regular crock and maybe the flip flop - they started making too many types.

 

[mill4023]

I think it was a "fad" and it's mainly over.

And sorry but those are the MOST uncomfortable shoes I have ever tried to wear at Disney! My Mickey ones go to and from the pool ONLY. So the view on here that these are the "greatest" thing ever is not always correct!

I'm not sure why some people find them uncomfortable. Do you have high arches? I have flat feet and even though I agree they are extremely ugly, I'll never wear anything other than Crocs to WDW again. Well, unless the company folds and I can't buy them.

Crocs may be a bit of a fad because of the quirky style, but I think most people wear them because of the comfort. I know I do.

If they could only make shoes that were nicer looking, but still as comfortable, I think they'd sell a lot more.

 

[rotlex]

They should have just stuck with the regular crock and maybe the flip flop - they started making too many types.

This is exactly how I feel. Grew too fast, and started producing what, like 100 different types of shoes? I hope they stay around, as, even though I hate to admit it, I love my Crocs. As soon as the weather breaks, I live in them. Heck, I even have a few winter pair now.

Here's hoping they can stick it out.

 

[selina4disney]

I have high arches, and plantar faciatis, and wide feet. They are the first shoe I ever wore to Disney World (or anywhere else with a lot of multiple day walking) without any blisters. And my DH who also has plantar faciatis swears by them too.

I have to agree that from reading this board, I know that (ugliness aside) they are not for everyone. My DD got blisters when she tried to wear them to Disney World a couple years ago (beaches, and she has narrow feet), and she will never wear them again in any form.

I love my Keens but with my wide feet the Crocs are the most comfortable thing I own. Guess I will make room in the suitcase for a couple more pair when we go to WDW this weekend.