Crocs Inc.’s stock was down 15% in premarket trading on Thursday after the footwear maker issued fourth-quarter earnings projections that fell short of current analyst estimates, despite its third-quarter results beating expectations.
Crocs CROX, -2.14% said its third-quarter net income rose to $177.03 million, or $2.87 a share, from $169.35 million, or $2.72 a share in the year-ago quarter. The company said adjusted its full-year outlook reflects its shift in strategy around its HeyDude, a footwear brand it acquired in 2022.