Crocs falls after weak Q3 forecasts, Q2 profit miss
BUZZ-Crocs falls after weak Q3 forecasts, Q2 profit miss ** Shares of footwear maker Crocs CROX.O fall 11.6% to $118 in premarket trading
** Co forecasts current quarter profit and revenue below estimates
** Logs $430 million and $307 million non-cash impairment charges related to the HEYDUDE trademark and HEYDUDE Brand reporting unit goodwill, respectively
** Q2 adjusted earnings per share of $4.23 miss estimates of $4.34, according to data compiled by LSEG
** Reports Q2 adjusted operating margin of 25.1%, lower than last year's 26.9%
** Q3 revenue expected to be flat compared with a year ago, while adjusted EPS expected to be $3.20 to $3.30
** Analysts expect Q3 revenue growth of 2.4% and adjusted EPS of $3.53
** Still, company lifts annual sales and profit targets, betting on strength in its direct-to-consumer business
** Q2 revenue of $1.18 billion beats estimates of $1.15 billion
** CROX up 56% so far this year, as of last close
(Reporting by Juveria Tabassum in Bengaluru)