Shares of Crocs have decreased by nearly 30% following a warning of declining sales due to tariffs and cautious consumer behavior. The company forecasts a revenue drop of 9% to 11% for the current quarter, disappointing analysts. The latest wave of tariffs and uncertain global trade policy contribute to this decline. Chief Executive Andrew Rees noted that consumer traffic is decreasing as Americans limit spending amidst a cooling labor market and rising prices. Historically popular during the pandemic, Crocs is now facing challenges as trends shift and consumer spending tightens.
Shares of the US footwear company Crocs have slumped by almost 30% after it warned of falling sales because of tariffs, super cautious US consumers and signs that fashion's ugly shoe trend is coming to an end.
Andrew Rees, the chief executive, said there was ample evidence that some consumers in North America were super cautious; they're not purchasing, they're not even going to the stores, and we see traffic down.
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