Clog-Maker Crocs Falling Off

Firm has seen drastic decline in sales, share price
By Nick McMaster,  Newser Staff
Posted Aug 1, 2008 4:10 PM CDT
Crocs, Inc. (NASDAQ: CROX) and Jibbitz, LLC, a wholly owned subsidiary of Crocs, are launching an all new collection of footwear and accessories inspired by the smash hits, Hannah Montana and High School...   (AP Photo)
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(Newser) – Crocs, Inc,. the firm that makes those ubiquitous rubber clogs, is having a bit of a fashion emergency. The stock has lost 90% of its value in less than a year, and the company predicts a 20% sales decline by the end of 2008, NPR reports. The firm’s execs blame the economy, but it’s clear that Crocs face an image problem with their brand.

"They're comfortable, but they're stupid. They're ugly," said one teenager interview in a Kansas mall. "They're big and foamy…why did they even make them?" Crocs is attempting a turnaround, moving away from clog to shoes customized for particular retailers. Says an analyst: "I think they have a viable strategy now."