Crocs shares tumble 18% as company flags troubles at HeyDude loafer brand

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 2022 HeyDude acquisition is dinging its otherwise strong growth. The Broomfield, Colo.-based company said overall 2024 sales will rise 3% compared with its previous estimate of 3% to 5% — crushed by a 14.5% sales decline of HeyDude merchandise. By comparison, the Crocs brand is expected to grow by 8% this year, th ...