Crocs Shares Plunge After Q3 Earnings As HEYDUDE Brand Takes Longer To Turn The Corner
Portfolio Pulse from Nabaparna Bhattacharya
Crocs, Inc. (NASDAQ:CROX) shares fell 17.4% after Q3 earnings report. Despite beating EPS and revenue estimates, the company lowered revenue guidance for its HEYDUDE brand, which is taking longer to recover. Crocs brand showed growth, but HEYDUDE's decline impacted overall outlook.
October 29, 2024 | 1:29 pm
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Crocs shares dropped 17.4% after Q3 earnings report. The company beat EPS and revenue estimates but lowered guidance for HEYDUDE brand, impacting investor sentiment.
Crocs reported better-than-expected EPS and revenue, but the lowered guidance for the HEYDUDE brand, which is taking longer to recover, led to a significant drop in share price. The market reacted negatively to the revised outlook, especially concerning the HEYDUDE brand's performance.
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IMPORTANCE 90
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