Victory?!?
Manolo says, perhaps our long international nightmare is finally over.
Shares of Crocs Inc plummeted over 40 percent on Tuesday, a day after the maker of brightly colored plastic shoes slashed its sales and earnings projections for the first quarter and year, in what one analyst dubbed a “stunning fall.”
[…]
“Current macrotrends in the environment” have led to weaker-than-expected sales, according to Crocs Chief Executive Ron Snyder, speaking to analysts during a conference call on Tuesday. Colder weather and the closure of the company’s Canadian factory were also expected to crimp profit.
Factories producing Satan’s feetwear are closing? Sales of ugly plastic clogs are plummeting? Super Villain CEOs are whining at the press?
Can ticker-tape parades and joyous public pronouncements of thanksgiving be far behind?
April 22nd, 2008 at 1:03 am
One can only hope.
April 22nd, 2008 at 6:07 am
Can they be melted down and made into anything useful?
April 22nd, 2008 at 6:48 am
You can now get them at Costco for $20 a pair. A true sign the end is near.
April 22nd, 2008 at 9:33 am
My worry is that sales of actual Crocs are falling because these days there are cheaper faux Crocs available all over the place and folks are buying those instead.
April 22nd, 2008 at 10:01 am
I’m dancing for joy over here!!!
Whoo Hoo!
Luv
Poochie
April 22nd, 2008 at 10:53 am
Style Spy, I was wondering the same thing. I still see people wearing the Crocs and the faux Crocs everywhere. I was in Walgreens the other day and passed by a big bin full of hideous faux Crocs for some ridiculously low price. Bleh.
April 22nd, 2008 at 12:19 pm
The Manolo can at last declare victory over de feet!!! (Please excuse the awful pun).
April 22nd, 2008 at 1:29 pm
Crocs has been asked to redesign their footwear by the Japanese - too many children getting their feet injured when their crocs get caught in an escalator. Also, I think the market may be saturated, with both real crocs and faux crocs. Add in the increase in petrochemical prices and, with some luck, the monstrosities will die.
April 22nd, 2008 at 2:40 pm
Crocs company was on a list of stocks that I consider buying from: good earnings yield and good return on capital (at the time). But in following the example of the Warren Buffett, I wouldn’t buy stock of a company that makes dreadful products. Instead, I bought stock of a company that makes high-quality handbags.
Hooray for the Warren Buffett! And the Manolo!
April 22nd, 2008 at 3:21 pm
Faux versions of faux shoes. Perhaps the increase in the cost of petroleum, undoubtedly the essential ingredient in the creation of such ugliness, will necessitate the end of all such despicable plastic footcoverings. Faux, faux, fum.
April 22nd, 2008 at 4:52 pm
And we can hope that as they stumble… well, that they are wearing crocs and riding an escalator.
April 22nd, 2008 at 5:32 pm
By the way, Manolo — Steve Madden is at it again! http://www.stylebakeryteen.com/2008/04/shoe-knockoffs-go-to-far-this.html
April 22nd, 2008 at 6:06 pm
wannabe -
I went and looked at that article. I didn’t think Steve Madden could be worse with the knocking-off but those surprised even me!
Dang! That company has no shame - they even had them on their home page under a banner reading “Hot Couture”
Geez!
Luv
Poochie
April 22nd, 2008 at 8:43 pm
Well, its about damn time! YAY!
April 22nd, 2008 at 9:54 pm
Crocs - faux or no - will never die. My trashy coworkers LOVE their crocs; all have pairs in several colors for both winter in summer and feel they are perfectly suitable for a business casual environment (ticks me off they get away with it). And of COURSE all of their children have several pairs, too, because they’re so KYUUUUUT and the girls put all them there stickers an’ jewelry on ‘em an’ stuff…
April 22nd, 2008 at 10:12 pm
I will say this: I had foot surgery yesterday and was pleasantly surprised to notice that not a single doctor, nurse, or other staff member at the surgery center was wearing Crocs. All I saw was Dansko clogs, New Balance tennis shoes, and other similarly appropriate footwear for a surgical hospital staff.
April 22nd, 2008 at 10:55 pm
The escalator thing isn’t just with Crocs. http://www.washingtonpost.com/wp-dyn/content/article/2007/07/27/AR2007072702269.html
The scarier fact was that at the time of that article, Crocs were manufacturing 6 million pairs of those hideous things a MONTH! I’m sure they will be in landfills around the world forever too.
Happy Earth day, indeed! Besos, Manolo
April 23rd, 2008 at 6:33 am
I’ll be happy to see them gone… but at the same time, feel bad for all the people who are losing their jobs in Quebec, where the plant is closing =S
April 23rd, 2008 at 11:57 am
Wannabe–I saw those knockoff steve maddens too…and I was shocked that they would want to knock off something so hideous to begin with!
April 23rd, 2008 at 3:40 pm
my sister bought a pair of crocs recently and I told her she had to get rid of them tout de suite! why do people find crocs so appealing?
April 23rd, 2008 at 4:08 pm
Article from The Guardian on the Japanese request for a re-design:
http://lifeandhealth.guardian.co.uk/fashion/story/0,,2275495,00.html
April 24th, 2008 at 6:13 am
shoelover would be more than happy to offer some free clear shoe boxes to the first person who provides a picture of a pair of crocs being sacrificed on an alter
xoxo
Shoelover