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Crocs announces... absolutely nothing!

Shares of Crocs, Inc. (NASDAQ: CROX) have been in free fall since the end of November, when the stock hit an all-time high of $75.21.

After a guidance cut that sent the stock down about 50% last week, Crocs management are searching desperately for whatever it takes to get the stock to do something other than go down. Today's answer is a classic example of a garbage press release: Crocs, Inc. Announces New Retail Channel Strategy at World Shoe Association Trade Show in Las Vegas.

Crocs announced a "new retail channel strategy. . . designed to elevate the Crocs brand, create more cohesive product alignment for its retail partners and pave the way for its popular, comfortable shoes to be easily available in the wide variety of retail environments where its core customers shop."

What exactly does that entail? Crocs doesn't really elaborate. Maybe it has something to do with trying to get the products out of Costco Wholesale Corporation (NASDAQ: COST). The other part of the press release is the announcement of some new footwear styles -- upmarket Crocs priced anywhere from $54.99 to $69.99 for "a high performance boating shoe that combines Crocs lock H2O pods for advanced wet traction and the Crocs Exo-Frame that wraps the foot with a protective Croslite material shell for a supportive fit."

Guess investors aren't too excited: the stock is down nearly 9% as I write this.

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Last updated: December 02, 2008: 08:13 AM

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