Crocs, Inc. (CROX) reported better-than-expected third-quarter earnings, but lowered its revenue guidance due to continued struggles with the HEYDUDE brand. While Crocs brand revenue grew, HEYDUDE saw a significant decline, prompting the company to adjust its outlook for the remainder of the year.
Crocs, Inc. (CROX) shares tumbled in pre-market trading after the company reported its third-quarter financial results, which included a lowered revenue guidance for the HEYDUDE brand. Despite exceeding earnings expectations, the struggling HEYDUDE brand and cautious outlook for the coming year sent investors scrambling for the exits.
