Crocs shares fall nearly 30%
The decline also comes after the company's revenue forecasts pointed to a decline of between 9% and 11% in the current quarter. Between April and June, the company's sales fell 6.5%, at a time when the popularity of these shoes is declining in the United States.
Shares of US footwear company Crocs are falling 29.24% after Donald Trump's trade tariffs came into effect.
The decline also comes after the company's revenue forecasts pointed to a decline of between 9% and 11% in the current quarter. Between April and June, the company's sales fell 6.5%, at a time when the popularity of these shoes is declining in the United States.
Andrew Rees, the company's CEO, said that "the current operating environment is uncertain and difficult to predict."
According to “The Guardian”, the company warned about the impact that trade tariffs could have on profitability.
This was the biggest drop in the stock since 2011, dropping its valuation to its lowest in nearly three years, at $74.39.
jornaleconomico
