"We think a great way to diversify and provide a little bit more security to our investors is to not diversify away from the iconic clog within Crocs, but to add another brand, which has its own icon," said Rees, in an interview on CNBC's " Power Lunch." "And that provides, we think, a tremendous diversification and a really compelling reason for us to acquire this brand." ![]() The transaction is expected to close in the first quarter of next year and immediately add to revenue and earnings growth, the company said.īut Crocs shares tumbled 12% on Thursday - its worst showing since April 2020 - as investors fretted over the news. On Thursday morning, the retailer announced plans to acquire the privately held footwear label Hey Dude for $2.5 billion in a cash-and-stock deal. Personal Loans for 670 Credit Score or LowerĬrocs is also hoping to expand its portfolio of shoes beyond the rubber clogs that it's best known for while still tapping into comfort trends, he said. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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