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Crocs CEO John McCarvel on the company’s third-quarter earnings, expansion of its product line and outlook.
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Crocs they fell rather precipitously at more than 20% today following the company's third quarter earnings which actually.
Beat on the the bottom wanted to very very well in fact they were net income up 49%.
Year every year but they missed on the revenue they've downgraded what they're expecting for the rest of the year.
So what's the strategy moving forward for these iconic she is joining us now -- a Fox Business exclusive is John -- carpal.
He's -- CEO and president -- John great to have you here -- Look at look at these numbers and I saved so -- some horrible about this but I spent that analysts are now starting to feel that.
You guys need to communicate better with Wall Street that -- keep saying he'll do one thing and then there's a miss at least on one level or another what happened this time around.
Or we've -- -- what's you know I I think.
We're a global if we debated it with apple and it -- With a lot of other people who Wear apparel and see if not market.
I think that -- -- -- have some you know over the last record years where.
Graham were growing.
Quite nicely in global market investors.
In QE expected this isn't that -- the -- -- -- and now they expect a little bit the challenge is -- we are highly diversified.
-- -- from a geographic -- -- -- If he -- percent of our revenue comes from -- that the US and and in that challenge -- of Europe that certain Asian market.
No doubt and certainty -- Minor changes but it is that we were up but -- million dollars from our from our work at the plant.
But the pretty tough economic situation.
-- in Europe.
And investors.
Don't like -- -- certain the end in any.
-- Well -- -- then I guess the obvious question would really be.
Do you see that turning around anytime soon and what are you doing to trying capitalize at least on what areas are strong.
Well I think we we that is that -- but -- is up year three year 33%.
So what are we doing in dispersed market like if the -- big market share where where we've been and I think.
Within three in our business to -- -- -- December 2000 there's been.
I think we're gonna get that this would be -- -- The end it there.
I'm holding up your iconic sure of course the one that everybody knows and then -- the classic -- you know I want people to know that this resident.
May issue with the holes in it was a simply an idea.
Of a voter who decided you know what I am tired of using boats as the get -- and starts smelling these and never kept -- -- start smelling but now I'm holding up something.
That doesn't necessarily look like a class a croc -- You actually have some real wins with your -- Tell me about the -- sales -- were Smart enough to diversified not just in different countries but also with your actual product once said you weren't just a one product company.
Tell me about how what you see for the future of your blue line.
-- -- -- bet if the labor of love their product marketing and went over the last the -- here.
Of that particular credit if you count on the whose line is the third generate them all with a product demand.
That he continues to evolve and and that can it -- the group that.
All went period -- been been state where people would think about product that we got the work a little bit harder be -- bit more innovative.
When it you -- -- But do you expect that the next quarter we'll show little bit of improvement here in the US to see -- green shoots here in the US economy.
You know that -- actually you know what was that yesterday it was really proud of our compare it US if the order.
It -- that perform better now than expected.
In her own -- they'll build.
Up.
There were the fourth quarter with a lot of let me -- Partners he would that the big group.
Upheld -- -- that -- -- that the people who.
You know -- that Spain.
Brennan that we do in in base that we are actively.
You know multiple expecting it here on you have the -- Oh that's good that's good to hear.
John it's good to have you the next time you're in town or whenever you wanna join us you know -- follow the -- story and I find it awfully interesting thirty to forty new stores you expect to be opening.
In the next quarter John -- car -- -- CEO president thank you for joining us.
Think people have been making you -- there them -- -- when you've been you're welcome anytime glad to have you thank you so much.
