Crocs quarter beat, strong Q3 view drive shares

Shoe company Crocs Inc (CROX.O) posted a second-quarter profit that beat Wall Street on lower costs and strong sales, especially in the Americas region, and forecast a strong third quarter, boosting shares 9 percent after market.

The company, which had lost some of its popularity in the recent past and struggled with falling sales, has been streamlining itself, lowering inventory levels and revamping product designs.

"We hope those who prematurely published our obituary a year ago will now take some time to give us our due," Chief Executive John McCarvel said on the call.

Crocs, which sells colorful plastic clogs, saw sales rise across the board in the second quarter.

Read Full Article from Reuters

- Posted: 2010-08-05 21:40:38

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