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For about a year, Crocs had been written off as sinking fads, while the Niwot-based company that makes them struggled. But the shoes have really been hanging on, and as of yesterday Crocs stock was up by 12.38 percent, the leading gainer among Colorado companies, notes the Denver Business Journal.
Earlier this week, Crocs’ chief executive John Duerden told the ICR Xchange conference in Dana Point, California, that his company is “poised for profitable growth in 2010” thanks to Crocs re-focusing its product line within the last year (via The Wall Street Journal). The company, according to Duerden, eliminated its debt, has production costs under control, and substantially reduced its inventory.
And, most critically, people are still wearing Crocs. PiperJaffray senior research analyst Jeffrey P. Klinefelter says it’s reasonable to assume Crocs will reach profitability this year. In short, Crocs seem to be bouncing back, as this odd video ode, “Crocs in Socks,” is hoping for.