Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Crocs company faces financial trouble

Posted by on Jul. 28, 2009 at 1:56 AM
  • 10 Replies

 

Poll

Question: Do you (or your children) own Crocs?

Options:

Yes.

No.


Only group members can vote in this poll.

Total Votes: 26

View Results

 

Many people were ready for the Crocs trend to be over even before the shoes hit stores in 2002.

Blogs were launched that attacked the shoe company for its colorful $30 foam footwear. Maxim even named Crocs one of the “10 Worst Things to Happen to Men in 2007.”

Well, it looks like the end of Crocs might finally be here.

In 2007, Crocs boasted a profit of $168.2 million. In just one year, the company found itself struggling with debt, The Washington Post reports. It lost $185.1 million and cut 2,000 jobs while its stock price fell 76 percent.

Now, the company has until September to pay back its losses. But as people continue to throw their Crocs in the back of the closet, the company is left with a surplus of shoes and little consumer interest.

"The company is toast," Damon Vickers, manager of an investment fund at Nine Points Capital Partners in Seattle, told The Washington Post. "They're zombie-ish. They're dead and they don't know it."

In 2006, Crocs was at its peak. It began selling shares in the company to the public and received over $200 million — the largest stock offering ever for a shoe company. To meet the growing demand, the company greatly increased production.

However, the company faltered when the recession hit. Crocs were made to last through repeated wearings and consumers found no reason to replace them.

(Story from NYDailyNews.com)

 





Please join:
 Advice for Moms        The CafeMom  Newcomers Club The CafeMom Newcomers Club
Kids, Fun & Photos! Kids, Fun & Photos!    Current Events & Hot Topics Current Events & Hot Topics
The Cafe                        CafeMom Hollywood

by on Jul. 28, 2009 at 1:56 AM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-10):
momof6nokc
by on Jul. 28, 2009 at 9:12 AM

 My kids live in crocs during the summer!  They are great for the lake/boating because they float.  They can be thrown in the dishwasher to clean, they dry instantly and are virtually indestructable.  I will miss them, and will likely stock up as they go on sale so my kids can have them for the next several summers.  I sure hope the company can pull out of this...

Kathy


Piglet sidled up to Pooh from behind.  "Pooh," he whispered.  "Yes, Piglet?"  "Nothing" said Piglet, taking Pooh's paw, "I just wanted to be sure of you."  ~Winnie The Pooh

jrdnjstn00
by Bronze Member on Jul. 28, 2009 at 9:26 AM

These shoes are second in line for being ugly only UGG brand beats them out


margroc
by on Jul. 28, 2009 at 9:46 AM


Quoting momof6nokc:

 My kids live in crocs during the summer!  They are great for the lake/boating because they float.  They can be thrown in the dishwasher to clean, they dry instantly and are virtually indestructable.  I will miss them, and will likely stock up as they go on sale so my kids can have them for the next several summers.  I sure hope the company can pull out of this...

I think the fact that they are indestructable was their mistake - not many people need to rebuy them.

MissBearNMonkey
by on Jul. 28, 2009 at 9:49 AM

This. THIS!!!!!!!

I belong to a Facebook group called, "I Don't Care How Comfortable Crocs Are, You Look Like A Dumbass."

I also fully admit to both my children wearing them for any and all water related activities. They look fine when they are fully submerged.

Quoting jrdnjstn00:

These shoes are second in line for being ugly only UGG brand beats them out


  SPEAK OUT! News & Debate


BRAINY BOOKS! BRAINY BOOKS! BRAINY BOOKS!

cesca511
by Member on Jul. 28, 2009 at 9:51 AM

I don't like them for everyday shoes, but my 2 year old has a pair for the beach and around the pool.  I wouldn't have bought them if I hadn't gotten them so cheap though.  I got them in TJ Maxx for $7.50, for the real ones, not the cheap walmart knock offs.  I will say though, they are much better quality than the knockoffs.  They are soft and flexible, not hard plastic like the cheap ones.

 "Everything that is or was began with a dream." ~ Lava Girl

elliephant
by Silver Member on Jul. 28, 2009 at 8:23 PM

LMAO.

I dont have a pair. My kids dont have a pair.

Im not surprised.  They are a 'Fad' imo.

Quoting MissBearNMonkey:

This. THIS!!!!!!!

I belong to a Facebook group called, "I Don't Care How Comfortable Crocs Are, You Look Like A Dumbass."

I also fully admit to both my children wearing them for any and all water related activities. They look fine when they are fully submerged.

Quoting jrdnjstn00:

These shoes are second in line for being ugly only UGG brand beats them out



Imsupermom2
by Cynthia on Jul. 28, 2009 at 8:58 PM

When you live in the hospital as much as I do you see them on almost every doctor and nurse. I don't care how ugly they are--if its more comfortable for my daughters doctor to stand for 13 to 30 hours while he is doing her brain surgery...I say they're okay with me. 

MattisMommy08
by Bronze Member on Jul. 28, 2009 at 9:43 PM


Quoting jrdnjstn00:

These shoes are second in line for being ugly only UGG brand beats them out


no joke!  lol


                         Click my logo to see my site!

lalasha
by Bronze Member on Jul. 29, 2009 at 3:07 PM
sad day I don't like to see anyone fail I hope they can pull them selves out of the whole somehow
and I kinda want a pair of the flat mary janes they are cute
shecallsmemom04
by on Jul. 29, 2009 at 3:10 PM

we wear them as slippers and around the house/yard shoes.  as far as wearing them out in public, no.  and they are so ugly it's not even funny.   

 

Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)