Crocs suffers sharp drop in sales and profits

Crocs saw both its revenue and profits decrease sharply in the third quarter. Its management believes the decline will continue in the fourth quarter, and is tripling its cost-cutting program.

All signs are red

Group sales in July, August and September amounted to 996.3 million dollars (860 million euros), down 6.2 % from a year earlier. Its own retail activities recorded an increase of 1.6 %, but wholesale sales fell by 14.7 %.