Inside a Crocs Store at the Queens Center in New York.
Ryan Baker | CNBC
Casual footwear company Crocx There is a plan to reduce orders for the second half of the year what its CEO said to the “related” environment for the consumer.
“We see the American consumer behaving carefully around discretionary expenses. They have to face an increase in the current and vested future price, which we think has another stretching ability to consumer already liked. Against this background, our retail partners are working more carefully and reducing their open-to-boys in future season,” said the CEO said that the CEO said that the CEO said
Ress said, “The second half is related to the current environment, and we see that clearly is reflected in the books of retail orders. We strongly believe that it is time to maintain a durable cash flow mode for the future and make bold decisions to move forward.”
The shares of Crokes on Thursday after the company on the Stark warning issued a Stark warning and posting a weak-to-first forecast for the current quarter.
Since October 2011, there was a loss for the worst day of stock on Thursday.
Crocs imports most of its products from countries such as Vietnam, China, Indonesia and Cambodia which are now subject to import tariffs.
Reece stated that the company is taking steps to protect profitability, in which to pull back the promotional activity in retailers and withdraw some of its old inventory, especially for its Heid Shoe brand, to “reset” retail partners with new stocks.
“It will make further headwinds for the amount of sales in the next several quarters,” Rice said.
Reece said Continues an earnings Crocs first applied $ 50 million in cost savings.
“Although these tasks will affect the topline of our business in the short term, they will support our business, driving the margin dollar and continuous cash flow production,” he said.
The company is presenting the third quarter revenue under the estimates of Wall Street. Crocs hopes that revenue for the current quarter will reduce 9% to 11% year -year -year -year -old year. Analysts surveyed by LSEG expected the expected revenue to be slightly higher a year ago.
Crokes is also estimating the adjusted operating margin of a third quarter in a third quarter, which is below 25.4% in the third quarter a year.
The company refused to issue guidance for the entire year.
For the second quarter, CROCS reported a net loss of $ 492.3 million or $ 8.82 per share compared to a net income of $ 228.9 million or $ 3.77 per share during the same period a year ago. That damage was related to its heditude brand by a $ 737 million non-cash loss charge.
Except for the other one -time items, the company topped the adjusted income of $ 4.23, topping the Wall Street Expectation for $ 4.01, according to LSEG, according to LSEG.
Revenue came in $ 1.15 billion, according to an increase of 3.4% before the year and LSEG estimate of $ 1.14 billion.
– Melissa Rapco of CNBC and Sara Salinas contributed to this report.
