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Crocs Signs Licensing Pact With NBA

Shares are little changed on the news.
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, the maker of sandal-type shoes with round holes in them, has signed a licensing deal with the National Basketball Association that covers its footwear and Jibbitz charms.

"Basketball fans are some of the most dedicated in all of professional sports, and we're thrilled to provide NBA fans with a new way to support their favorite teams and show their spirit from head to toe," said Ron Snyder, CEO of Crocs. "Many Crocs customers are actively involved in sports and outdoor activities, which will make these new products a hit for athletes and fans alike."

NBA-branded Crocs shoes, including the Mammoth model for cold weather, will be available prior to the start of the 2008-2009 season.

Shares of Crocs were recently down 2 cents at $26.10 Friday. Crocs has been a fad stock for some time, but investors have been losing interest in recent months. The stock is well below its 52-week high above $75.

Earlier this week, Colorado-based Crocs

disappointed shareholders with its outlook following its quarterly results.

This article was written by a staff member of