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    Crocs Shares Fall on 3rd Quarter Miss

    By Stock Charts | November 5, 2007




    Crocs, Inc.’s (CROX) shares fell late last week after third quarter revenues fell short of expectations. Prior to Thursday, Crocs stock had risen 73% since the beginning of 2007. While the company reported earnings that beat analyst expectations, revenue guidance fell short, leading to the 36% drop in share price.

    Crox stock chart

    The chart looks pretty rough; after the huge gap down the stock might find support at the 200 DMA. At this point the stock could go either way; but I feel that it still has a ways to go before any major recovery is possible.

    Crocs Chief Executive Ron Snyder claimed that “the company had difficulty ramping up manufacturing and distribution to meet higher demand in Europe and Japan, which cost the company about $30 million in lost sales.” This is certainly one way to put a positive spin on the lowered guidance, but in reality perhaps the trendiness of Crocs shoes is fading. Comfortable or not, these shoes look ridiculously ugly and I have no idea how they managed to catch on. Another hot stock that has lost it’s luster is Heelys, Inc. (HLYS) the maker of childrens shoes with built in wheels.

    Crocs

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