We have no official position on Crocs, because if people want to dress like Playmobile characters, that's fine with us. Wall Street has a different opinion, however, and they've given the plastic shoes a vote of no confidence. Croc's stock dropped yesterday by 36%, reflecting a backlash to the ubiquitous shoes that seeps through fashion kids, city moms, and chatty blogs - there's actually an entire website called I Hate Crocs. Some retail analysts think it's just a routine dip, but Crocs haters everywhere are hoping for the beginning of the end. We don't know so much about finance (those aspiring business babes out there should head to Dealbreaker instead), but we think Crocs are the new Uggs - once "cool" but also hated, undeniably functional, and ultimately enduring. But if they're not, you could probably recycle them into airplane seats or something.
Crocs Made $1 Billion Last Year, Probably Won't Die Anytime Soon
The founders of Crocs shoes may not have a designed something that even comes close to being aesthetically pleasing (In fact, the Croc was developed as a "spa shoe."), but have become wildly successful in spite of that. The company announced yesterday that full-year revenue will surpass the $1 billion mark for the first time. Yes, Crocs are increasing in popularity. The shoes that make many of us cringe on-sight have withstood a lot--constant ridicule, a hate website and a few dips in stock, including a pretty big one in 2007. But the company seems to have have put all of that behind them and are somehow inspiring people to run to the mall and buy their odd-looking hole-filled slip-ons. In addition to, and largely because of, this revenue milestone; the firm's shares went up 6.3 percent, Footwear News reports.