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Shares of Niwot-based Crocs Inc., the maker of colored clogs, plunged 45 percent in after-hours trading after saying full-year profit and sales will trail its earlier forecasts.
Crocs dropped $3.99 to $4.96 in late Nasdaq Stock Market trading, adding to a 9.4 percent decline in regular trading. The shoemaker said retailers cut back on clog orders as U.S. consumers spend less.
Second-quarter profit dropped to 3 cents to 7 cents a share, while sales were $218 million to $223 million, the company said Thursday in a statement. For the year, earnings per-share will be “break-even” and revenue will be “down modestly,” the company said.
