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Crocs (CROX) Stock Drops After Q2 Miss, Lower Guidance

NEW YORK (TheStreet) -- Shares of Crocs (CROX) are tumbling 19.91% to $8.81 in mid-morning trading today after the Niwot, CO-based shoe manufacturer reported lower-than-expected second quarter results before today's market open.

Crocs posted earnings of 13 cents per share, falling short of analysts projected 16 cents per share. Revenue fell 6.3% year-over-year to $323.8 million, missing analysts estimated $347.75 million.

In 2015, Crocs reported earnings of 31 cents per share on revenue of $345.67 million for the second quarter.

The company lowered its revenue guidance for the third quarter to between $245 million to $255 million, below analysts estimations of $289.52 million. Crocs also expects revenue to be down low single digits...