Crocs shares slump as US shoppers rein in spending

Crocs shares took a hit, dropping nearly 30% amidst concerns of reduced sales as US shoppers cut back on spending. The footwear company warned of a challenging second half of the year due to factors like high living costs and potential impacts of trade policies. Crocs plans to address these challenges by focusing on cost savings in its supply chain, while also noting a shift in consumer behavior towards athletic products ahead of major sports events.