Crocs initiatives weighing on near-term results, says Seaport Research

After having hosted a small group call with Crocs (CROX)’ CFO last week, Seaport Research tells investors that the call was partly used to “dig a little deeper” into some of the key topics coming out of Q3 results the prior week. While the firm notes that Crocs’ initiatives are weighing on the company’s results over the near term – highlighting that while the company is pulling back on the breadth and depth of promotions in North America, it plans a 2 for $50 promotion during key holiday selling periods – the firm believes this is what is best for the business over the long term. The firm maintains a Neutral rating with no price target on Crocs shares.