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Bloody freaking economy! Crocs to go out of business?

post #1 of 23
7/17/09 at 12:22am
Thread Starter 
Once-Trendy Crocs Could Be on Their Last Legs
http://http://www.washingtonpost.com...03672.html?g=0

"...the problem with a nearly indestructible product is that shoppers rarely need to replace it."

"The company swung from a profit of $168.2 million in fiscal year 2007 to a loss of $185.1 million last year. In its annual report, Crocs said that an independent auditor expressed concerns about "conditions that raise substantial doubt about our ability to continue." Its stock price has plummeted 76 percent."

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post #2 of 23
7/17/09 at 12:34am
No, the real problem is that they're absolutely hideous and their market demographic is the same people who wear $2 flip flops year round.
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post #3 of 23
7/17/09 at 12:47am
So be it...
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post #4 of 23
7/17/09 at 1:01am
those shoes are retarded, I'm glad of seeing fewer new additions of those on the streets everywhere around the world.
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post #5 of 23
7/17/09 at 1:04am
My novena to St. Crispin has been answered!
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post #6 of 23
7/17/09 at 1:08am
They'll probably go bankrupt, though I'd be very suprised if they actually closed rather than downsized back to the niche position they used to occupy.

That said, one must wonder about the sanity of anyone who wears crocs out in public (though I enjoy wearing mine while doing what little outdoor work I can't manage to avoid).
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post #7 of 23
7/17/09 at 1:20am
seriously, its a miracle they lasted this long. now, good riddance and lets wait for the next abomination that comes along for us to hate.
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post #8 of 23
7/17/09 at 1:24am
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post #9 of 23
7/17/09 at 4:01am
Quote:
Originally Posted by RyJ Maduro View Post

They look like some kind of third-rate 2000s version of the A-team.
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post #10 of 23
7/17/09 at 8:22am
I wear'em but I got them free, and just around the house and backyard.
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post #11 of 23
7/17/09 at 8:41am
I have trouble understanding how they could lose that kind of money in the space of a year. The cost of producing the things is so low... the company must just be flushing money down the toilet on some kind of marketing.
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post #12 of 23
7/17/09 at 8:46am
Quote:
Originally Posted by Pennglock View Post
I have trouble understanding how they could lose that kind of money in the space of a year. The cost of producing the things is so low... the company must just be flushing money down the toilet on some kind of marketing.

I read the article the other day. The original guy expanded quite a bit, built 3 factories and hired quite a bit of people to make that simple rubber shoe. I guess he thought sales were gonna actually increase quite a bit instead of the current nose dive.

The article also said the CEO(maybe not CEO, don't remember) was fired and a person who is a specialist in brand marketing was stepping up to the plate to try to re-market the shoe.
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post #13 of 23
7/17/09 at 9:26am
Good fucking riddance. In other news, Mario Batali is buying the remaining worldwide inventory of size 10 orange crocs.
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post #14 of 23
7/17/09 at 9:27am
Quote:
Originally Posted by DarkNWorn View Post
Good fucking riddance.

In other news, Mario Batali is buying the remaining worldwide inventory of size 10 orange crocs.

And rebranding them with a MB logo and selling them for a 500% profit.
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post #15 of 23
7/17/09 at 11:25am
I don't understand how this company could have thought they had staying power. They were a fad.
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