Crocs (CROX) revises its revenue and earnings guidance for Q3 lower. The company now sees revenue of $273M-$275M, down from previous guidance of $280M. CEO John McCarvel points to "softness in our consumer direct channel in kiosk and outlet locations" as a contributing factor.
For the third quarter of 2011, the Company now expects revenue to be in the range of $273.0 to $275.0 million, an increase of approximately 27% over the $215.6 million of revenue reported in the third quarter last year. This compares to the Companys previous guidance for third quarter 2011 revenue of $280.0 million. For the third quarter 2011, the Company now expects diluted earnings per share to be between $0.31 and $0.33 compared to its previous guidance of diluted earnings per share of $0.40.
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