NEW YORK, April 24 (Reuters) – Crocs Inc (CROX.O: Quote, Profile, Research), known for its colorful plastic shoes, on Thursday said it is launching a line of shoes and accessories based on Walt Disney Co’s (DIS.N: Quote, Profile, Research) hit shows “Hannah Montana” and “High School Musical.”
The shoemaker also said it will make shoes tied to the upcoming Walt Disney film “Wall-E.”
The Hannah Montana and Wall-E inspired Crocs will come to market in May while High School Musical footwear will debut this summer.
Crocs, whose shoes have evolved from fad to lifestyle items since coming to market in 2002, is aiming to reverse a string of bad news, including reports of slowing business.
The company slashed its earnings outlook earlier this month, citing fewer retail orders and costs from a Canadian factory closure. (Reporting by Justin Grant, editing by Mark Porter and Gerald E. McCormick)
Crox, which has seen its stock take a large hit due to its expected decrease in earnings saw a 7 percent gain after news of its contract with Disney. Crocs is undoubtedly a fad that will not last but in the short future (1-2 ) week horizon, Crocs should be able to retrace a point or two based on its new line.
