Crocs Sinks Most Since March 2020 on Tariffs, Cautious Consumers

Crocs Inc. shares dropped the most since the start of the Covid-19 pandemic on a weaker outlook, with the maker of colorful clogs warning that cautious consumers are further pulling back on spending.

Third-quarter revenue will decline approximately 9% to 11%, the company said on Thursday, well below analysts’ average estimate for a gain of less than 1%. On Crocs’ earnings call with analysts, executives said they won’t reinstate full-year guidance, which it first withdrew earlier this year, due to changing global trade policies.