Buy the shoes, not the shares, we advised last year in a piece about Crocs, the ubiquitous perforated resin clogs we suspected were a passing fad. Though the company has made a strong showing since, third-quarter sales, announced at the end of October, fell short of expectations and sent shares down 37% in one day, to $48. Nevertheless, even with the recent slide, the stock has tripled in price since our story ran. Revenue in the last four quarters has more than doubled to $736 million, thanks to Crocs' popularity in Europe and Japan and to new products like fake-fur-lined clogs for winter and high heels with the rncomfortable Crocs footbed. The Niwot, Colo, companyrnis launching an apparel line made from fabricrnwoven with its Croslite closed-cell resin.
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