A little more than a year ago, we were among the media organizations placing Crocs on a “death watch.” The reasons were simple: The company’s profits were plunging, and it seemed the rubbery-clog fashion trend was on its way out. But within months, the company began to turn around, bringing in new leadership and, importantly, offering more than just clogs. This week, the Niwot-based company’s third-quarter earnings are up by 13 percent, topping last year’s results and proving Wall Street analysts wrong, points out Dow Jones Newswires.
The company’s stock is up, too—6.3 percent so far this week. Crocs has worked hard to cut its inventories, manage costs, and improve its balance sheet in recent months. “Our improved operating results continued to be driven by growing consumer demand for our expanded product assortment,” says John McCarvel, president and CEO, in a statement (via the Denver Business Journal).