Crocs Nearly Bankrupt
July 17, 2009 by Kori Ellis
Filed under Discount Deals, Sandals, Shopping for Shoes
If you have read Shoe Blitz for a while, you probably know that I am no fan of Crocs. Nevertheless, you hate to see any shoe company (or any type of company for that matter) in financial trouble. And right now Crocs is definitely losing their footing.
Over the past seven years, over 100 million pairs of Crocs have been sold. In 2007, the company posted a profit of $168 million. But for 2008, an incredible reversal — a $185 million loss.
In the past two years, Crocs stock have gone from $70 a share to just about $3.
With a declining demand, …read more
