A JPMorgan analyst cut his estimates on Crocs Inc. late Wednesday after the shoe maker posted lower-than-expected first-quarter results.
Robert Samuels cut his 2008 outlook to $1.68 per share from $1.70 per share in a note to investors, saying he was disappointed with the company's sales growth and decline in gross margins. He maintained his "Neutral" rating.
Analysts expect average earnings of $1.60 per share in 2008, according to Thomson Financial.
Separately, a Thomas Weisel analyst raised revenue estimates for Zumiez Inc. after the skateboard and snowboard products retailer posted better-than-expected April same-store sales.
Thomas Weisel analyst Jim Duffy raised his 2009 revenue outlook for the Everett, Wash., company to $437 million from $435 million in a note to investors late Wednesday, citing the better-than-expected figures, which measure performance at stores open at least a year.
But he pointed out that the results were skewed higher by an earlier-than-usual Easter, resulting in an additional weekend day of sales.
Analysts polled by Thomson Financial expect revenue of $441.3 million in 2009.
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