Niwot-based Crocs Inc.'s stock reached an all-time high Thursday, coinciding with the company's release of its fall lineup at the Fashion Footwear Association of New York trade show.
The new footwear includes 13 casual designs for men, women and children made from Crocs' trademark synthetic, spongy material. Also debuting this fall is the YOU by Crocs collection, which features high-fashion, dressy shoes made from un-Croc-like materials such as lambswool, leather and suede that cost 9 to 9.
With wedge-heeled loafers, knee-high boots, ankle boots and dress shoes, the company is hoping people will start wearing Crocs to almost any event imaginable.
"This is a natural evolution for us to go into the fashion market," said Crocs spokesman Tia Mattson . "We're bringing comfort footwear back."
The company also announced a partnership with Warner Bros. in a licensing deal that will allow Crocs to feature the images of classic cartoon characters such as Bugs Bunny and Scooby-Doo on its shoes.
At the closing of the stock markets Thursday, Crocs' stock was selling ata recorded best of .10, up 1 percent from Wednesday.
Katie Townshend, a financial analyst with MKM Partners LLC, said the long-term outlook for Crocs is good, but there could be a temporary slump in the stock prices after such rapid growth.
"I think (the stock) pulls back from here in the short-term," Townshend said.
Overall, the company now has more than 60 styles and about 3,500 employees worldwide.
The latest Crocs won't hit stores until September. Angela Demagistris, of the Boulder Running Company, said she expects the new shoes beginning on Sept. 15, with most arriving by Oct. 1. She said she hopes the new designs will reinvigorate sales of a brand that has "plateaued" at her store.
With the new fall line-up ? including the YOU by Crocs design ? company CEO Ron Snyder said he believes Crocs won't go the way of the Tamagotchi and Beanie Baby.
He joked that he now has a pair of shoes ? from the YOU line ? that resembles normal footwear.
"Both U.S and international pre-bookings of that line are quite good," he said.
Shoes in the new line are named with cocktail terminology, such as "Gimlet," "Straight Up" and "Highball."
Despite recent slowing retail sales, Angelique Dab, senior vice president of Nollenberger Capital Partners, said she sees a positive outlook for the company.
"I think the consumer will respond to the fresh updates," she said.
Dab, who owns stock in Crocs, said ergonomic testing of the new YOU line has come back almost completely positive. Word of mouth about the new shoes is also spreading fast, she said.
"When a woman realizes that she can walk around in 3-inch heels all day and not feel pain, I think that's a big deal," Dab said. "I'm very excited about the long-term future for this company. I see it as a viable long-term opportunity."
Also on Thursday, Crocs announced it received the Footwear Brand of the Year award from the Drapers Footwear Awards in the United Kingdom. |
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