Shares in Crocs company plummet by almost 30 percent

Crocs CEO Andrew Rees also said in a conference call with analysts that US consumers were generally reluctant to spend on non-essential items.

Crocs expects US President Donald Trump's import tariffs to have a negative impact of 40 million dollars in the second half of the year. Rees warned that concerns about possible price increases could further dampen consumer spending. At the same time, he expects classic sports shoes to become more popular in the USA with the 2026 FIFA World Cup and the 2028 Olympic Games in Los Angeles.

Crocs shares closed the trading day down 29.24 percent. In a counter-reaction in after-hours trading, it then rose by a good three percent.

In the past quarter, the company's revenue, which also includes the Heydude brand, rose by 3.4 percent year-on-year to around 1.15 billion dollars. The bottom line was a loss of a good 492 million dollars, which was mainly caused by write-downs on the Heydude brand value. In the same quarter of the previous year, the company reported a profit of just under 229 million dollars.