Crocs has withdrawn its annual guidance due to uncertainties in the global trade environment and business conditions, as stated by CEO Andrew Rees. The company’s first-quarter revenues remained flat, and they, along with 75 other footwear brands, have urged the Trump administration for tariff exemptions. A 10% tariff could add $45 million in costs annually, while a 145% tariff on China could increase costs to $130 million. Although recent U.S.-China negotiations may ease some tariffs, ongoing uncertainty complicates planning, prompting Crocs to diversify sourcing and reduce expenses by $50 million while considering price increases.

Source: https://www.supplychaindive.com/news/crocs-pulls-guidance-citing-tariff-trade-uncertainty-sales-flat/747688/