突然卖不动了？知名品牌股价一夜暴跌近30% CEO：美国消费者不买东西了

Core Viewpoint - Crocs is facing significant challenges as its sales are expected to decline, leading to a sharp drop in stock price and market value, primarily due to changing consumer preferences and economic pressures [2][4][7] Group 1: Financial Performance - Crocs forecasts a revenue decline of 9% to 11% for Q3, contrasting with analyst expectations of slight growth [2] - The company reported a net loss of $492.3 million in Q2, largely due to a $700 million impairment charge related to the acquisition of HEYDUDE [7] - In 2023, Crocs achieved record sales of $3.962 billion, an 11.46% year-over-year increase, with a net profit of $793 million, up 46.73% [3] Group 2: Market Trends and Consumer Behavior - The "ugly shoe" trend is waning, with consumers becoming more cautious about non-essential spending, impacting foot traffic in stores [4][5] - Crocs is experiencing a slowdown in growth rates, with projections showing a decline from 14.6% to 2.4% over the next year [3] - The company is facing increased competition from traditional sports brands, especially with upcoming major sporting events [5] Group 3: Regional Performance - Despite challenges in the U.S. market, Crocs has seen significant growth in China, with revenue increasing over 60% year-over-year in 2024 [5] - The brand's collaboration with popular actress Bai Lu has generated substantial social media buzz, enhancing its visibility in the Chinese market [5] Group 4: Operational Challenges - Crocs is dealing with issues related to counterfeit products and low repurchase rates, which threaten brand value [6] - The company's selling, general, and administrative expenses increased to 34.2%, up 5.2 percentage points year-over-year, impacting adjusted operating profit margins [6] - Tariff policies are expected to impact the company by approximately $40 million in the second half of 2025, with an annual effect of $90 million [7]