BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Crocs Stock Plunges to Lowest Since 2022 on Tariff Concerns
Crocs Stock Plunges to Lowest Since 2022 on Tariff Concerns
22
1
BTCCSquare news:
Crocs shares tumbled 27% to $76.50, marking their lowest close since November 2022, after the footwear company warned of tariff impacts on third-quarter results. While Q2 earnings beat estimates with $4.23 adjusted EPS and $1.15 billion revenue, management withheld full-year guidance citing "evolving global trade policy" uncertainties.
The company anticipates a 9%-11% Q3 revenue decline, below expectations, with operating margins pressured by tariffs. CEO Andrew Rees emphasized cost-cutting measures including $50 million in savings and reduced promotional activity, acknowledging short-term revenue pain for long-term brand preservation and cash FLOW stability.
By:
