In a presentation to financial analysts, Crocs predicted that its sales will fall about $10 million below its previous forecasted range of $280 to $290 million during the third quarter of this year. The revised guidance stems from the strong dollar and the company's decision to hold back about $6 million worth orders to selected Chinese distributors because of an inventory glut. As the brand generates two-third of its turnover outside the U.S., foreign exchange currency rates will reduce its revenues by about $4 million during the quarter. On the other hand, the management maintained its short-term profitability targets and confirmed that it wants to reach an operating margin of 10 to 12 percent by 2018, with sales growing at an annual rate of at least 8 percent. Margins should benefit from lower operating costs, a more centralized product strategy and a 40 percent cut in SKUs. More in Shoe Intelligence.

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