Crocs Shares Nosedive as Cautious U.S. Shoppers Cut Back on Spending
Shares in Crocs tumbled by nearly 30% on Thursday, marking the brand’s worst single-day drop in almost 15 years, as the American footwear maker flagged a sharp downturn in consumer demand. The company now expects revenue for the third quarter – ending in August – to decline by around 10% year-on-year. Crocs attributed the forecast…
