Crocs today announced the second year of its innovative brand’s style blogger program. Five style and fashion bloggers are taking part in the 2013 CrocStyle Insider program to help preview and showcase new Crocs styles.
Each CrocStyle Insider (Pauline Karwowski, Audrey McClelland, Jenn Rager, Maegan Tintari and Lilliana Vazquez) helps share new, fashionable Crocs products with shoppers looking for online style inspiration through monthly reviews on their blogs. They also host interactive online events and style parties throughout the year to further connect with readers.
Crocs has launched a new style blogger program to highlight its trendier products. The company has engaged five well-known style and fashion bloggers – Kathryn Finney, Audrey McLelland, Jenn Rager, Maegan Tintari and Lilliana Vazquez – to participate in the program as “CrocStyle Insiders” to preview and showcase new Crocs styles.
Ok, so maybe Crocs will make it, maybe it won’t. But who woke up Washington Post reporter Ylan Q. Mui so he (or she, I have no idea) could piss all over the Niwot company this morning? Seriously, Crocs’ stock dropped from roughly $75 to about $0.95 from November 2007 – November 2008, and Mui decides now – seven months later with the stock up about 340 percent since the lows – is the time to write this story? Quite a scoop. Perhaps tomorrow’s follow-up will be that oil is unlikely to sustain a price of $144/barrel. Regardless, Crocs CEO John Duerden used the company blog to respond to Mui’s article.
Crocs stock is up about 70 percent over the past three weeks, and insiders are attributing the spike to the clever endorsement deal Crocs PR’s Shelley Weibel struck with Somali pirates:
(Hat tip to Daniel Brogan at 5280).
Sun Microsystems, which has been chasing Crocs for the title of worst Colorado-related investment play of 2008, announced it will cut 6,000 employees, which translates to approximately 18 percent of its workplace. It is unknown how many of those cuts will come from the company’s Broomfield campus.
Crocs laid off 75 employees today, which represents about 4 percent of its workforce. Crocs said the majority of the layoffs were in Colorado.
Some CEOs are great are starting companies, some are great at running established companies, and some are great at turning companies around. Few, it seems, are great at two or more of those things. On that note, it will be a tough morning for Crocs. The company’s stock dropped nearly 50 percent yesterday in after-hours trading following the company’s disclosure that it expects earnings to be below its previous forecasts. Crocs stock, which traded as high as $74.75 last Halloween, was at $4.96 last night.
Crocs now plans to add an escalator warning to its shoes. No word yet on whether it will be a picture of Tia Mattson or Shelley Forslund with a cartoon bubble that says, “Inattentive parents: Give us a @#&! break and don’t let your kids shove their feet into the teeth of a moving escalator.”
It has been a bad year for Crocs. If you believe the company’s naysayers, the company’s shoes are a fad that has passed and are inherently unsafe. And Crocs’ share price has plummeted from more than $74 to less than $10 over the past eight months. And now the company is having to spend time assuring Wall Street that just because it makes a few mistakes in its quarterly filings, it really isn’t a big deal.
Linhart PR client Crocs’ stock continues to fall, this time on the company’s announcement that it has reduced its earnings forecast for Q1. The stock, which peaked at $75.21 less than six months ago, is at $12.60 in after-hours trading today.
Crocs’ SolesUnited program, which recycles and distributes old Crocs in impoverished countries, will be featured on this week’s episode of Celebrity Apprentice (Thursday at 8 p.m. on NBC). The celebrities will create an awareness campaign for the company’s charity program. Because when your stock price has fallen 63 percent over the past three months, who better than Stephen Baldwin, Gene Simmons and Marilu Henner to develop the marketing strategy to turn things around.