Crocs Stock Loses Its Footing

Crocs (CROX) delivered grounds gross and net pinch its second-quarter results, but an underwhelming profit projection put a damper connected nan footwear company’s momentum.

The institution expects diluted earnings per stock (EPS) of $2.95 to $3.10 successful nan existent quarter, beneath nan expert statement of $3.28, according to Visible Alpha. For nan afloat year, Crocs projects $12.45 to $12.90 per share, up from anterior guidance of $12.25 to $12.73.

Crocs posted second-quarter gross of $1.11 billion, up 4% year-over-year and conscionable supra expectations of $1.1 billion. Diluted EPS roseate 11% to $3.77, supra expectations of $3.50. 

Crocs expects its namesake marque to support increasing sales, but its Heydude marque — responsible for astir $200 cardinal of second-quarter gross — is expected to spot income autumn arsenic overmuch arsenic 10% for nan afloat year. Executives said they would beryllium "acclerating" Heydude trading successful nan 2nd half.

Shares of Crocs were precocious down much than 3%. They're still up 40% this year, but good disconnected June highs.