Crocs shares plummet as US shoppers rein in spending
The shares of the American shoe company Crocs fell approximately 30% after warning to a decrease in sales, as the US shoppers were restrained in their expenditures.
The rubber blockage manufacturer, until the end of August until the end of August, the income expects to decrease by about 10% compared to last year, and some shoppers no longer visit Crocs stores, he said.
“We see that the US consumer is cautious around optional expenditures,” Andrew Rees, General Manager of the company. He said.
The company’s share price is at the lowest level for about three years after the worst one -day drop in almost 15 years.
Crocs warned the second half of the year in the second half of the year due to the high cost of living and the potential influence of US President Donald Trump’s trade policies.
Susan Healy, Chief Financial Director, said Crocs will receive $ 40 million (£ 29.8 million) for the rest of 2025 due to tariffs.
“I think we can reduce the effect of tariffs in the medium term. This will come from cost savings in our supply chain.” He said.
The shoe manufacturer also warned that he saw “super -cautious” “super -cautious” with a part of the customer base.
“They don’t buy, they don’t even go to the stores, and we see traffic,” Mr. Rees said during a call with investors and journalists.
Crocs said it would continue to withdraw to download its products by warning that it may have more impact on sales.
The US, Mexico and Canada and 2028 Los Angeles Olympics next year before the Football World Cup, consumers “returned to athletic products,” he said.
Comments came after Crocs reported 3% increase compared to the same period last year and declared the second quarter of $ 1.1 billion.
The company also owns the ordinary shoe brand Heydude after a $ 2.5 billion in the late 2021.
