Crocs’ stock took a hit Thursday after warning sales would decline in the current quarter while also continuing to hold off on providing guidance for the year.

The clog and sandal company said it expects revenue to decline between 9% and 11% in the third-quarter compared with a year earlier. Wall Street is forecasting a slight uptick in the quarter.

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Shares dropped 26% to $77.81, putting it on pace for its largest-percentage decrease in almost 14 years.

Crocs also said things were too uncertain for it to predict what the rest of the year would look like. The company in May withdrew its guidance around the time that tariffs were forcing outlooks to be dialed back or pulled altogether.

Chief Executive Andrew Rees joined a chorus of executives who have begun to point to a consumers who are tamping down on their spending.

“They are faced with current and implied future price increases, which we think has the potential to be a further drag on an already choiceful consumer,” said Rees. He added that retailers are responding in a similar fashion, which it sees reflected in its retail order books when it looks to the back half of the year.

Financial pressure isn’t just affecting Crocs’ customers. The company, planning for tariffs at their current rates, expects to see a $40 million hit from levies in the second half of 2025 and about $90 million annually, based on its current sourcing mix.

The Broomfield, Colo., company swung to a loss of $492.3 million, or $8.82 a share, for the second quarter, compared with net income of $228.9 million, or $3.77 a share, in the prior-year period.

Stripping out certain one-time items, earnings came in at $4.23 a share. Analysts polled by FactSet had expected $4 a share.

Revenue rose to $1.15 billion from $1.11 billion. Analysts polled by FactSet had expected $1.14 billion.

By brand, revenue for Crocs rose 5% to $960 million from a year earlier, while HeyDude declined 3.9% to $190 million during the same period. The year-over-year declines for the HeyDude brand are significantly lower than past quarters, indicating efforts to stabilize the brand and overall business are panning out.

Rees said against the broader uncertainty, the company remains focused on managing expenses, reducing inventory and pulling back on promotions to protect brand health in the market. “Although these actions will impact the top line of our business in the short term, they will position our business to win,” he added.

Write to Denny Jacob at denny.jacob@wsj.com

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