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0 -0.0110395584176634 -0.0110395584176634 0 -0.0110395584176634 -0.00643974241030361 0.0133394664213431 -0.0611775528978842
Stock impact report

Crocs shares slide 5.6% premarket after earnings miss, company cuts pay, furloughs workers during pandemic [MarketWatch]

Crocs, Inc. (CROX) 
Last crocs, inc. earnings: 4/23 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investors.crocs.com/investor-overview
Company Research Source: MarketWatch
Crocs Inc. shares slid 5.6% in premarket trade Thursday, after the casual footwear company missed profit and revenue estimates for the first quarter as stores were shuttered during the coronavirus pandemic. The Niwot, Colorado-based company said it had net income of $11.1 million, or 16 cents a share, in the quarter, down from $24.7 million, or 33 cents a share, in the year-earlier period. Adjusted per-share earnings came to 22 cents, below the 31 cents FactSet consensus. Revenue slid to $281.2 million from $295.9 million, also below the FactSet consensus of $296.0 million. The company withdrew 2020 guidance provided on Feb. 27 because of the uncertainty caused by the virus, but said it expects revenue declines to continue in the retail and wholesale channels as long as social-distancing measures remain in effect. "Further, we expect a larger decline in revenues in the second quarter of 2020, as the majority of our retail and partner stores may be closed for the whole period," the com Show less Read more
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