Cave Shoes Crocs Three Quarter Loss $27 Million 776 Thousand, Share Price Plummeted

In the three quarter, wholesale income of Crocs Inc. was recorded at US $133 million, down 12.1% from a year ago, down 2.4% at fixed exchange rates, and 111 million 700 thousand US dollars in retail income, down 11.1% over the same period.

The manufacturer Crocs Inc. (NASDAQ:CROX), Carlos Chi, released the three quarter earnings report from profit to loss on Thursday before the end of the three quarter of September 30th. The company's net loss was $27 million 776 thousand, plus a loss of $0.37 per share, compared with a net profit of 12 million 9 thousand US dollars in the same period last year, and the earnings per share were 0.12 US dollars, which is far below the market expected $0.10 EPS.

In addition, the company recorded $274 million 100 thousand in the three quarter, which is also less than $278 million expected by the market, down 9.4% from 302 million 400 thousand US dollars a year earlier.

Last year, Gregg Ribatt, the chief executive of the footwear industry and group joining Crocs Inc., said that the weakness of the Chinese market and the strong dollar made the group struggling, ignoring the exchange rate changes and ignoring the impact of the mode adjustment. The group's three quarter revenue increased by 3.7%.

In the three quarter, Crocs Inc.'s inventory was reduced to $19 million, and the company also paid $4 million for freight forwarding to Chinese dealers.

But Gregg Ribatt said the loss will help the group's future performance.

Crocs Inc. today appointed a new chief financial officer, and Carrie Teffner will formally take office in December 16th. She previously served in PetSmart, Weber-Stephens and Timberland as CFO. She is also a member of the Crocs Inc. board. She will retire as director of the Crocs Inc. post after formally joining the company.

Crocs Inc. has been popular all over the world, but then the health discussion and the single product made the company in trouble, especially the Chinese market has no loyalty to any product, resulting in the Asia Pacific market as one of its most important markets.

The three quarter,

Revenues plunged 13.1% to 98 million 879 thousand US dollars, and 3.5% declined under the fixed exchange rate; the European market weakened, the euro decreased by 17.4%, but the fixed exchange rate increased by 1.3%, while the three quarter income recorded 50 million 122 thousand dollars; the North American market earned 124 million 700 thousand dollars in the three quarter, and fell by 2.2% compared to the same period.

According to the channel, the wholesale income of Crocs Inc. in the three quarter was $133 million, down 12.1% from a year ago.

The decline was 2.4%; retail income recorded $111 million 700 thousand, down 11.1% from the same period last year, and fixed exchange rate decreased by 3.8%; business income was the only rising business; the three quarter increased 15.1% to 29 million 464 thousand dollars, and the fixed exchange rate rose to 23.4%.

Crocs Inc. continued to streamline its stores. By the end of the three quarter, the company had operated 557 stores, a year-on-year decrease of 28.

Crocs Inc. (NASDAQ:CROX), Carlos Chi, dropped sharply before the loss of its stock price. The deadline for the launch of the Chinese net was 6.18% at $10.17 in the US Eastern time of 8:32AM. The company's share price has fallen 13% this year and has closed at $10.84 on Wednesday.