CROX issues an ugly warning

[S2007S]

Quote from S2007S:

Thursday, May 1, 2008
Crocs cuts more jobsDenver Business Journal

Crocs Inc. continues to cut jobs, with the layoffs of another 27 people announced Wednesday.

The Niwot-based shoe maker (NASDAQ: CROX) has been struggling with a falling share price and a decline in orders from retailers. Crocs two weeks ago announced it would cut 669 jobs and close a Canadian plant.

The company also said last month it was cutting its forecast for the first quarter. Instead of the expected profit of 46 cents a share, Crocs now believes the figure will fall somewhere between 5 cents a share and break-even. Crocs will announce its first-quarter financials on May 7.

Crocs in January laid off 17 employees at its Jibbitz subsidiary. Jibbitz makes decorations that fit into the holes in the distinctive Crocs shoes.

Jibbitz, the people who created that company sold it off to Crox for $10,000,000, the company was only a year old. They made the perfect decision to sell it at that time knowing that jibbitz were a big FAT FAD....

 

[bigpig41]

forgeting future guidance.........if they announce 5 cents per share do you think the stock is already priced it in??

 

[phlegmologist]

Gotta love these one hit wonder stocks that delight the short sellers from time-to-time, such as, Gardenburger, Coleco, Atari, Vermont Teddy Bear, Actrade, Checkers, and 99% of the Internet IPOs from 1999.

"When the music's over, turn out the lights."

 

[KINGOFSHORTS]

I wonder how many folks got burned buying CROX in the 60s.

 

[frank grimes]

stock loved this one one 50 points higher!