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| Crocs shares plummet as US shoppers rein in spending | Crocs shares plummet as US shoppers rein in spending |
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| Shares of American footwear firm Crocs have plunged nearly 30% after it warned of a drop in sales as US shoppers rein in their spending. | Shares of American footwear firm Crocs have plunged nearly 30% after it warned of a drop in sales as US shoppers rein in their spending. |
| The rubber clog maker says it expects revenue for the three months to the end of August to fall by about 10% compared with last year, saying that some shoppers are no longer visiting Crocs stores. | The rubber clog maker says it expects revenue for the three months to the end of August to fall by about 10% compared with last year, saying that some shoppers are no longer visiting Crocs stores. |
| "We see the US consumer behaving cautiously around discretionary spending," said the firm's chief executive Andrew Rees. | "We see the US consumer behaving cautiously around discretionary spending," said the firm's chief executive Andrew Rees. |
| The company's share price is now at its lowest level for nearly three years after suffering the worst single-day drop in almost 15 years. | The company's share price is now at its lowest level for nearly three years after suffering the worst single-day drop in almost 15 years. |
| Crocs warned of a "concerning" second half of the year, due to the high cost of living and the potential impact of US President Donald Trump's trade policies. | Crocs warned of a "concerning" second half of the year, due to the high cost of living and the potential impact of US President Donald Trump's trade policies. |
| Its chief financial officer, Susan Healy, said Crocs would take a $40m (£29.8m) hit for the remainder of 2025 due to tariffs. | Its chief financial officer, Susan Healy, said Crocs would take a $40m (£29.8m) hit for the remainder of 2025 due to tariffs. |
| "I think we can over the medium-term mitigate the impact of tariffs. That will come from cost savings in our supply chain," said Mr Rees. | "I think we can over the medium-term mitigate the impact of tariffs. That will come from cost savings in our supply chain," said Mr Rees. |
| The footwear maker also warned that it has seen "ample evidence" that a portion of its customer base is now "super cautious" with their spending. | The footwear maker also warned that it has seen "ample evidence" that a portion of its customer base is now "super cautious" with their spending. |
| "They're not purchasing, they're not even going to the stores, and we see traffic down," Mr Rees said. | |
| Crocs said it will continue to pull back on discounting its products, cautioning that this could have a further impact on sales. | Crocs said it will continue to pull back on discounting its products, cautioning that this could have a further impact on sales. |
| Ahead of next year's football World Cup in the US, Mexico and Canada and the 2028 Los Angeles Olympics, Mr Rees said consumers are "migrating back towards athletic" products. | Ahead of next year's football World Cup in the US, Mexico and Canada and the 2028 Los Angeles Olympics, Mr Rees said consumers are "migrating back towards athletic" products. |
| His comments came after Crocs reported second quarter revenue of $1.1bn, a 3% rise compared to the same period last year. | His comments came after Crocs reported second quarter revenue of $1.1bn, a 3% rise compared to the same period last year. |
| The company also owns casual footwear brand HEYDUDE, following a $2.5bn takeover in late 2021. | The company also owns casual footwear brand HEYDUDE, following a $2.5bn takeover in late 2021. |