The success of Crocs Inc in Europe, where the U.S. shoemaker has focused on its trademark colourful foam clogs rather than branching into other products, proves the brand has a future despite difficulties at home, its European head said.Crocs, founded in Boulder, Colorado in 2002, quickly built a cult following for its springy-soled clogs, selling more than 300 million pairs of shoes. It now runs 624 stores and has expanded into accessories and more fashionable shoe styles.But profits went into decline as sales growth stalled at home and it expanded rapidly overseas. Last month, the group said it would focus back on its "core molded footwear heritage", cut 40 percent of its 350 product lines and close 75-100 stores as it trims investment in small markets."You say 'Crocs' and a lot of people will frustratingly say 'are you still around?'" Vince Gunn, Crocs European managing director, told Reuters in a telephone interview.
Crocs, Inc is a designer, manufacturer and distributor of footwear and accessories for men, women and children. Shares of CROX traded higher by 0.12% or $0.02/share to $16.31. In the past year, the shares have traded as low as $11.96 and as high as $16.88. On average, 1126350 shares of CROX exchange hands on a given day and today's volume is recorded at 1132520.
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