Like Zubaz pants before them, Crocs seem to be well on their way to assuming their rightful place of honor in the bad fad hall of fame as the company slashed its sales forecast and announced that it would be closing a plant in Quebec due to decreased traffic in its US stores.
Crocs CEO says:
“Current macrotrends in the environment” have led to weaker-than-expected sales, according to Crocs Chief Executive Ron Snyder, speaking to analysts during a conference call on Tuesday.
Meanwhile, Japan is tired of children’s feet being mangled by escalators and has instructed the shoemaker to fix a design flaw that causes the shoes (and toes) to be sucked down into the escalator’s moving parts. CNNMoney says the Trade Ministry issued the warning after receiving 65 complaints about Crocs getting stuck in escalators. From CNN:
The Washington Metro _ one of the nation’s largest transit systems _ has even posted ads warning about such shoes on its moving stairways. The ads feature a photo of a crocodile, which is the company logo, though the signs don’t mention Crocs by name..
Crocs shares plummet 40 percent after outlook slashed [Reuters]
Japan seeks design change for Crocs because of injuries [CNNMoney]