Blog: Crocs snaps
Leonie Barrie | 7 August 2009
“People seem to either love Crocs or hate them; either way they’re certainly talking about them,” the CEO of the colourful plastic clog maker said yesterday. But perhaps a more critical question is whether people are actually buying them too?
Despite swinging to a second quarter loss of $30.3m as sales tumbled 11.3%, the market took comfort from the firm’s rising retail and internet sales, strong demand in Asia, lower inventories and the fact a $17.3m credit facility has been paid off. Oh, and the company sees a return to profit in 2010.
“Our unwaivering commitment is to return this company to profitability and dismiss the notion that Crocs is a fad,” CEO John Duerden added.
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