Last Q, Deck had about 70% of the Zappos women's market overall...boots, accessories, slippers, and about 2-3 of the top 15 mens (slippers/loafers). With that said, the company's execution was simply terrible - they mis-forecast the basics and could not keep stock on hand to meet demand, thus the horrid sales.
Personally I am going to play a strangle on this - chances are it will either pop 15-20% back up or just further implode into the low 60s to 50s. I feel most of the management should be relieved as they simply do share buy backs and then reissue themselves options, similar to the Boston Beer game that is finally culminating after a run from 70 to over 300 in less than 4 years. Shareholders get the shaft.