I can't say that I am at all upset by this news, quite the opposite actually. But nevertheless, Crocs have posted a deep loss this week, as sales of the ugly colourful plastic shoe plummeted.
News sources report that the hit sent shares plunging down by 37 per cent in trade. Suggested solutions have so far included closing down its Brazilian manufacturing plant, and slashing next year's capital expenditure by 50 per cent. Ouch! While I don't like to see anyone out of a job let's be frank, the fewer Crocs on the planet the better for all.
Related: Have Crocs hit the big time with an editorial shoot in French Vogue? | Hate Crocs? You're not alone...
