After losing about 40% of its value last week, Crocs (NASDAQ: CROX) has another headache. As if the colors weren't already headache inducing!
The Wall Street Journal reports that "Japan has asked the maker of Crocs to look into changing the design of its footwear after complaints that children wearing the colorful plastic clogs have had their feet injured on escalators." Why can't they just quit wearing the damn things? I wish I knew how to quit you!
The company has faced similar accusations in the United States and Crocs is reportedly working with the Elevator/Escalator Safety Foundation (I can't believe that even exists) on public education initiatives. I think it's called what not to wear!
What does all this mean for Crocs? Probably not much beyond the company's already dismal financial results, although the posters warning about the dangers of Crocs near escalators in Japan probably won't do much to spur sales. But you never know what Japanese consumers will do, they love Mariah and William Hung
Crocs' dramatic fall from grace has been an interesting story to watch, and the company just doesn't seem to be able to catch a break. It's about time! The Britney of the shoe industry!
The safety concerns are not disclosed as risk factors in Crocs' latest 10-K, indicating that the company's management may not see them as a material threat to sales.
The safety concerns are not disclosed as risk factors in Crocs' latest 10-K, indicating that the company's management may not see them as a material threat to sales. Heck, people still wear them as ugly as they are, why would possible injury slow them down?
10 comments:
Yeah, I heard Crocs are struggling now. They're closing their a few of their plants, including one in Canada.
Oh, happy birthday sir. I left you a couple messages and sent you a pair of lime green Crocs.
The worst are the fur lined ones. *shudder*
I wear crocs. At home around the house, and occasionally to the bus stop. I may have worn them to the pool last summer. They are comfy! Have you ever worn them? I dare you to try them and then not love how they feel!
Are you the brother with the birthday? If so, happy birthday! I think you may have the same birthday as my brother depending on which day your birthday was.
Okay, I'm going to say... I have crocs. I wear them in the summer when I do yard work.
Can we still be friends? Or is this dealbreaker? And if it is, should we get Team Evans and Team Brandy shirts made? And can we get our own reality tv show and have an evil sidekick named Spencer on it?
Oh, and happy late birthday.
The crocs thing got me so riled up I forgot to mention the most important thing.
RG - yes, he was the brother with a birthday. His is 4/22. I've decided I will be answering the comments on his blog from now on since I can't be bothered to post on my blog. Peace be with y'all.
HHi All...
A surprise visitor (mom) for my birthday has taken away much of my opportunities to blog this week.
I am glad to see this has become somewhat of a confessional to all the croc owners out there- I will not absolve you, tho!
Maybe crocs and Uggs could do a fancy schmancy shoe...see it in the new Sex and the City movie with Cosmo's!
Sidekick Spencer has a nice evil ring to it!
I nearly bought some Crocs when I was in Canada for the Ironman. All the athletes were buying them to rest their weary feet. A true Ironman, like myself, doesn't need them.
Oh, I did wear mine to a triathlon too. I seem to be beyond forgiveness since I keep thinking of more and more times I have worn them outside of my house. I guess I'll have to buy the Team Brandy shirt.
My brother's birthday was the 21st so you don't share a birthday.
Have a great weekend!
Happy Belated Birthday!!!
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