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?