Crocs shoe company reports 43 per cent decline in profits (but the fashionistas won't be sorry to see them go) Crocs reported a 43% decline in second-quarter profits in June Stock fell by nearly a quarter in one day as a result Brokerage Stern Agee downgraded company from 'neutral' to 'underperform' Have recently unveiled new designs to try win over fash pack They are the brightly-coloured clogs with signature aeration holes most commonly spotted on middle class mothers doing the school run. And whilst they enjoyed huge success when they burst onto the footwear market back in 2007 thanks to their comfortable style, Crocs may soon be stepping away from the footwear market once and for all. Last month, the brand reported a 43 percent decline in second-quarter profits, and their stock fell by nearly a quarter in one day. The Croc is dead! They have long been the Marmite of the fashion world and now sales of Crocs have plummeted Despite selling £630 million of shoes in 2011 and £739 million in 2012, the first quarter of 2013 saw earnings fall by 42.5 per cent compared to the previous year, which the company blame on colder-than-normal weather and decreased consumer interest. And last Thursday, shareholders suffered another blow after it was reported that analysts from brokerage Stern Agee downgraded the company from 'neutral' to 'underperform'. Sam Poser, the analyst who wrote the report for Stern Agee, cited reasons for this rating as reduced earnings expectations and concerns over the senior executive leadership, according to The Daily Beast. He wrote: 'Unfortunately, it appears that those who concur with the top executives remain at the company, at the expense of numerous talented people who have left.' Losing their appeal: Despite selling £630 million of the shoes, which were credited for their comfortable style, in 2011 and £739 million in 2012, the first quarter of 2013 saw earnings fall by 42.5 Overhaul: In an attempt to win over the fash pack, the brand have recently had a style overhaul and redesigned the original £29.99 Crocs to give them a more stylish appeal Ultimately, it is the end of Crocs" hypergrowth, and their stock has fallen by about half in the past two years. In an attempt to win over the fash pack, the brand have recently had a style overhaul and redesigned the original £29.99 Crocs to give them a wider appeal. Fashion writer Nicole Mowbray said: 'Crocs should stop pretending to be cool and stick to what they do best - comfortable clogs. Or simply publicise how comfortable all their shoes are, rather than bleating on that they're stylish. 'In the Seventies, supporters of Millwall Football Club used to chant: "Nobody likes us, we don't care." 'Perhaps they're words the million-dollar Crocs company would do well to listen to.' Fashion blogger Lydia Faye Jones added: 'I'm a girl with a serious shoe obsession, however thankfully Crocs have never been one of them. 'The shapeless chunky style and hideous array of colours are why I'm not surprised the demand for Crocs has rapidly decreased! They have never been fashionable and it looks like now they never will be. Famous fans: The quirky footwear is loved by celebrities such as Brooke Shields and Whoopi Goldberg Crocs, Inc. is a shoe manufacturer founded by Scott Seamans, Lyndon 'Duke' Hanson, and George Boedecker It was first designed as a spa shoe First ever model was called the Beach and unveiled in 2002 at the Ft. Lauderdale Boat Show in Florida, selling out of the 200 pairs produced. In June 2004, Crocs secured the exclusive rights to the proprietary foam resin called Croslite, which they use in each of their shoes. Croslite moulds to the shape of the wearer's feet and offers medical benefits, according to a number of podiatrists. In June 2013 Crocs reported a 42.5 per cent decrease in net profits from a year before. As a result the stock fell 20.2 per cent in one day Have a small army of celebrity fans- George W. Bush famously wore a black pair (with socks), Michelle Obama has been seen in them, Jim Carrey and Ben Affleck donned them on the beach, Brooke Shields paraded a garish pink pair on the red carpet and the Beckham children are fans, too.