Posted AT 11:06 AM EDT on 25/07/08
Crocs stock plummets after warning
Shares of Crocs Inc., the once high-flying shoe maker, fell 47 per cent at the open Friday after the company warned it wouldn't come anywhere near its previously announced expectations for the quarter.
The company had told investors they could expect profits of 42 cents (U.S.) to 47 cents a share in its second quarter, but it said after the market closed Thursday that 3 cents to 7 cents would be a more reasonable expectation as sales volumes declined.
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| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | +2.28 | 12,816.42 |
| DJIA | +32.73 | 11,220.96 |
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