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Shares of Crocs tumbled 18% after the comfy shoe maker posted disappointing profits, blaming its struggling loafer brand, HeyDude. Crocs executives admitted during a Tuesday earnings call that its ...

Crocs was an early pandemic winner. Sales tripled to almost $3.6bn between 2019 and 2022 as Americans stuck at home ditched their heels and leather loafers for more comfortable footwear.

Crocs’ casual sneaker and loafer brand, HeyDude, is hurting performance, with full-year sales seen falling nearly 15% from a year ago. That compares with previous guidance of a drop of 8% to 10%.