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Crocs, Inc Provides Long-Term Strategy for Sustainable, Profitable Growth
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Crocs, Inc Provides Long-Term Strategy for Sustainable, Profitable Growth
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By Kim Bhasin, Jordyn Holman and Henry Ren (Bloomberg)
Overwhelmed U.S. ports, elevated freight costs and accidents that sent goods plunging to the bottom of the ocean are causing headaches for U.S. retailers already reeling from the pandemic.
From appliance makers to shoe brands and fitness equipment manufacturers, corporations of all sizes are reporting logistics struggles, especially on trans-Pacific trade routes. Although they haven’t yet translated into widespread sticker shock for consumers, the ongoing shipping issues threaten to disrupt inventories if they persist much longer.
“I don’t think we’re meeting everybody’s expectations today and frankly, we’re unlikely to. I doubt if anybody else is either importing products from Asia,” Crocs Inc. Chief Executive Officer Andrew Rees said on an earnings call this week. “Getting it through Long Beach and other ports, getting shipped to customers is really challenging right now. And that’s not an issue with p