Crocs (yup, the shoe manufacturer) losing lots of money

[marmar]

OK, so maybe this financial turmoil does have an upside. :evilgrin:


from MarketWatch:


Crocs reports $148M loss

By Matt Andrejczak
Last update: 4:34 p.m. EST Nov. 12, 2008Comments: 20


SAN FRANCISCO (MarketWatch) -- Crocs Inc. late Wednesday reported a third-quarter loss of $148 million, or $1.79 a share, battered by inventory write downs on its colorful sandals and restructuring charges to rejuvenate its once high-flying business. Sales fell 32% to $174 million. In the year-earlier period, Crocs earned $57 million, or 66 cents a share. Crocs warned more losses are coming as it downsizes. It expects to lose between 50 cents and 65 cents in the fourth quarter on sale of up to $120 million. Shares of Crocs closed ahead of the report at $1.90.


http://www.marketwatch.com/news/story/Crocs-reports-148M-loss/story.aspx?guid=%7B083B8D45%2D1CAD%2D4470%2DAC64%2D89427BA65D2C%7D&dist=hplatest

[Deja Q]

1. If the shoe fits, rot your foot in it and nobody will want them. Maestro, cue the strings:

:nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity:

[jaxx]

2. Now it's gone too far.

;-)

I love my crocs. Most comfortable shoes ever to run around in.

[GoneOffShore]

3. Toxic waste dumps for your feet

according to a friend of mine who works for the EPA.

[ContinentalOp]

7. What do you mean?

The materials they're made with are toxic and ultimately will end up in a landfill? Or they actually leach toxic crap into your feet or something?

[GoneOffShore]

8. Just quoting my friend.

Full quote: "I'd never wear those things. They're like wearing a toxic waste dump on your feet."

[ContinentalOp]

9. Oh ok. I wonder if they're biodegradable though? They do seem kind of gross if you think about it.

Millions of rubber shoes ending up in landfills in a couple of years. But maybe what they're made of isn't so bad? I dunno.

[tridim]

17. Most shoes are made of rubber, glue, cows and other synthetic petroleum products.

In my experience Crocs last a lot longer than average shoes (like 5x longer), which means they're probably better for the environment overall. I bet they're recyclable too, like tires.

[ContinentalOp]

27. If they last longer, isn't that worse for the environment?

Most of my shoes are made of leather and rubber, which would certainly break down in a landfill. Crocs are apparently made of a non-biodegradable petroleum byproduct. They are recyclable but you have to send them back to the company and who is going to do that?

[PatriotGames]

4. OK, the brand has a limited line of items. Like any style, it will go away in time.

[grasswire]

5. I thought the profit margin on crocs would be astounding..

...considering that there must be less than a $1 in materials and they cost anywhere from $29 to much more.

I love my crocs. Anyone with trouble getting fitted wants comfortable shoes.

[bullimiami]

6. we cant bail out crocs?

[SammyWinstonJack]

12. .

:spray:

[AlCzervik]

20. i think they have holes in them.

[tridim]

10. My Crocs slippers are probably the best purchase I've made in 10 years

I hope they last forever.

That said, I don't really wear them in public. :)

[Crabby Appleton]

11. hummmmm

[marmar]

14. Socks with Crocs......definitely a glamour-don't.

n/t

[KamaAina]

13. That would be the Crocs that McLoser held up as a shining example

of America's new economy? (Never mind that they manufacture overseas. :eyes: )

McLoser:

http://blogs.abcnews.com/politicalpunch/2008/07/mccain-obama-wi.html

"Five years ago, the outdoor footwear company, Crocs, was started by a couple of entrepreneurs with a great idea, ingenuity and drive," McCain said. "This former small business now employs 600 people in Colorado alone, and sells over 50 percent of its products in 90 countries around the world. Building barriers to Crocs or any American company's access to foreign markets will have a devastating effect on our economy and jobs, and the prosperity of American families."

:shrug:

[Mira]

15. Seriously - my take on crocs

I have severely stressed feet, with conditions that require insoles and visits to the podiatrist and that cause pain.

I started wearing crocs a year and a half ago. I now have 6 pairs, differing designs for all seasons, even relatively elegant ones with heels that once hidden under long pants I could wear to the Symphony performances with no loss of looking very stylish.

Crocs are all I have worn, I have no more doctor visits, no more foot pain.

I swear by them.

[doc03]

16. How on earth could they lose money they

couldn't cost more than a few pennies to make!

[JVS]

18. Screw everyone else. I got my pair.

[tammywammy]

23. I might have to buy a couple more pairs of flip flops in the next couple of weeks

Start stocking up. :)

[arcadian]

19. Same guy who started Circuit City started Crocs.

n/t

[tammywammy]

21. I have a few pairs of Crocs, not the ugly ones

And they're super comfy! I love the flip flops.

[Uzybone]

22. Obama wins. Crocs sales drop. Looks like America is regaining its senses

n/t

[depakid]

25. Part of this might have to do with the fact that you can get knock of crocs at 1/3 the price

[mondo joe]

24. Did the country awake from the style coma? NT

[varkam]

26. Oh Christ - we're not going to bail them out, are we?

Please say no