Business reporters
Getty ImagesCrocs’ share price plunged after the rubber clog-maker revealed a fall in US sales as shoppers chose to spend on trainers ahead of the World Cup and the Olympics.
The footwear became a stay-at-home staple during the Covid pandemic and has remained relevant as celebrities embraced the “ugly” shoe aesthetic.
However, North American consumers are buying into a “clear athletic trend” ahead of next year’s football World Cup in the US, Mexico and Canada and the 2028 Los Angeles Olympics, said Crocs’ boss Andrew Rees.
He also warned that US customers were being “super cautious” due to the high cost of living and the potential impact of Trump tariffs.
“They’re not purchasing, they’re not even going to the stores, and we see traffic down,” Mr Rees said.
US sales fell by 6.5% between April and June. Crocs cautioned on a “concerning” second half of the year as it reported a pre-tax…
