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Jul

18

The crocodile rock in Crocs is fading fast


I mentioned that this might be the case several months ago.  Here’s a Washington Post article that confirms the troubles of the American foam sandalmaker. 

The company swung from a profit of $168.2 million in fiscal year 2007 to a loss of $185.1 million last year. In its annual report, Crocs said that an independent auditor expressed concerns about “conditions that raise substantial doubt about our ability to continue.” Its stock price has plummeted 76 percent.

The story behind the story, however, includes what appears to be massive no-holds barred short-term expansion. It’s hard to imagine that the kind of growth Crocs pursued would be advisable during a boom or a bust.

I’m sorry, Phyllis.

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By Jill Miller Zimon at 10:02 pm July 18th, 2009 in Business, Economy, employment 

Comments

One Response to “The crocodile rock in Crocs is fading fast”

  1. 1 phyllis on July 18th, 2009 11:11 pm

    ROTFL! guess i’ll have to take a pic of all of our keens lined up in a row…. :-)

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