Just when you thought Crocs were accepting their slow demise they keep on fighting. Croc sales have risen over 17 percent, the biggest leap in a year.
The stylish yet subtle design of the irresistible slip-on plastic clog has long been welcomed into our hearts and homes with open arms.
The 17 percent rise reported on May 8 marks their biggest jump in a year, after an effort to revive the once-popular brand may be gaining some traction.
Just when you thought things couldn’t get better, Croc has announced a refreshed product lineup. But how do you refresh perfection? I guess we’re about to find out.
A standard Croc enjoying a day at the beach.
Trying to cut costs, Croc also closed 16 stores in the quarter.
Crocs became wildly popular in 2007, thanks to known style icons like Rosie O’Donnell and chef Mario Batali. Stock for Croc rose 500 percent in two years after its launch in 2006.
A standard Croc will set you back around $40, a small price to pay for perfection. When I was nine years old they only cost me $18. I know, I saved up to buy them – they were carnation.
As a complete shock to everyone with feet, Crocs footwear fell out of flavor. Like other retailers, it has also been hurt by falling mall traffic and changes in consumer spending trends.
The slight surge could also be attributed to celebrity endorsement, such as Christopher Kane’s runway Croc designs.
For the March quarter, Crocs reported revenue of US$268 million, down 4.4 percent on a constant currency basis, and adjusted earnings per share of 8 cents. Both were better than Wall Street expected.
The stock was up 17.24 percent at US$7.28.
A Croc in its natural habitat.