CROX faces Skecher’s competition. Kohl’s sees plastic-clogs as passé.

Skechers USA, Inc. (NYSE: SKX, $24.82) is now selling a plastic clog-like shoe named the “Waterbug” that is almost identical to the Crocs, Inc. (NASDAQ: CROX, $25.22) plastic clog-like shoe. Skechers is also selling the “Ladybug”, which is a children’s size plastic-clog.

Kohl’s Corporation (NYSE: KSS, $53.16) department stores are not carrying the Crocs brand of plastic clog-like shoes, initially due to Croc’s low profit margins. Now Kohl’s has opted to also pass on Skechers Waterbug. Kohl’s shoe buyers, who are responsible for approximately $1.1 billion annual shoe sales, believe that the plastic clog-like shoe is a fading fad.

Skechers, the maker of the Waterbug, has a market value of approximately $910.3 million. Skechers had sales of $1 billion and net income of $44 million in 2005. Meanwhile, CROX had sales of just $108 million in 2005 and has a market value of approximately $958.3 million. reports are published and distributed solely and exclusively to registered subscribers who have read and agreed to the Mandatory User Agreement located at /?page_id=25. This Mandatory User Agreement is included herein in its entirety by reference thereto and by notice of its availability.

Posted in Crocs, Inc.

Manuel Asensio doesn’t bet often. But when he does, it’s wise to pay attention.

Paul Kaihla
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