"Crocs, a company that has been desperately searching for a second act, is launching an après-sports shoe it hopes will win over achy-footed runners everywhere. The Prepair Collection, which uses a nano-silver technology to baby your feet after a workout, "is probably the closest this company will ever come to launching a sports performance shoe," says Doug Hayes, VP/North America of the Niwot, Colo.-based company."
"The Prepair Collection are antibacterial and antifungal, designed to reduce muscle exertion and peak pressure, and come in a clog, a slide and a flip for both men and women, starting at $34.99."
"At one point, Crocs was flying high, and considered the most successful initial public offering ever for a shoe company. But as demand for its rubbery clogs has slowed, times have gotten considerably tougher: Revenues plunged 43.9% to $126.1 million in its most recent quarter, including a 26.9% decline in the Americas. (Asia, however, still has an appetite for Crocs, with revenues there climbing 22.4%.) And it posted a loss of $33.2 million. Its tumbling stock price has had it scrambling for cash, and last month it announced a six-month extension of its credit facility, buying additional time for its restructuring. "
Excerpts from "Media Daily" or MediaPost Publications
Read More
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment