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Crocs tumbles after saying holiday season was difficult

Footwear maker Crocs (CROX) is falling after the company last night disclosed in an SEC filing that it had experienced a "difficult holiday retail sales environment" last year. The company, however, reiterated its previous fourth quarter revenue guidance of $220M. Analysts' consensus estimate was $219.38M. Crocs estimated that its backlog for the first half of 2013 would increase 15% versus the same period in 2012 on a nominal basis, and said its new products were "well accepted in most markets." In early afternoon trading, Crocs sank $1.14, or 7.26%, to $14.57.