Crocs, Inc. reported that revenues passed the billion-dollar mark in the second quarter to $1.07 billion, an increase of 11.2 percent from the same period last year, or 12.0 percent on a constant-currency basis.
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Crocs and Joybees Battle in Court Over Trade Secrets
Crocs filed a lawsuit in the U.S. District Court for the District of Colorado against Joybees, accusing the company and its chief executive of unfair competition. The filing came a day after Joybees filed claims with the Colorado Court against Crocs.
EXEC: Crocs Asserts HeyDude’s Slow Down Not A Signal Of Weakening Demand
Speaking at Baird’s 2023 Global Consumer, Technology & Services Conference, Andrew Rees, Crocs’ CEO, said HeyDude is expected to see U.S. wholesale sales decline in the second and third quarters of 2023 as it comped against aggressive initial distribution at several major U.S. retailers in 2022. However, he insisted that the demand for casual remains strong.
EXEC: Crocs’ Shares Hit By Projected Top-Line Slowdown, HeyDude Shortfall
Crocs, Inc. lifted its sales and earnings guidance for the year after witnessing a better-than-expected performance by the Crocs brand in the first quarter. However, the company’s shares are trading down about 16 percent in afternoon trading Thursday as investors appear still spooked by the sales slowdown expected for the rest of the year as well as lower-than-expected sales in the first quarter at HeyDude.
Crocs Raises Outlook On Strong First Quarter Results
Crocs Inc. reported earnings doubled in the first quarter ended March 31 on a 34 percent revenue gain. Sales gains were boosted by last year’s acquisition of Heydude and a 19.0 gain for the Crocs brand. Full-year guidance was raised due to accelerated momentum with the Crocs brand.
Crocs’ Chief Legal Officer Sets Plan To Retire
Crocs, Inc. reported in a regulatory filing that Daniel Hart, the company’s executive vice president, chief legal and risk officer provided notice of his intent to retire, effective April 1, 2024.
Crocs Launches “Customize Your Crocs”
Crocs, Inc. launched “Customize Your Crocs,” a new program to customize bulk orders of Classic Clogs and Jibbitz charms. The program is positioned for sports teams, corporate groups, and schools or as “general fun swag” for small and large-scale groups. “Our customization program allows teams, schools, and companies alike to design clogs and Jibbitz™ charms […]
Crocs Expands Customization Program
Crocs Inc. announced the launch of Customize Your Crocs, a new program to customize bulk orders of Classic Clogs and Jibbitz charms. The program is positioned for sports teams, corporate groups, schools, or as “general fun swag” for small and large-scale groups. Orders of custom clogs or Jibbitz charms must be a minimum of 24 […]
EXEC: Crocs “Off To A Great Start” In 2023
Speaking at the UBS Global Consumer and Retail Conference, Andrew Rees, CEO of Crocs, Inc., said the company is “off to a great start” in 2023, driven by innovation and new product introductions from its Crocs and Hey Dude brands.
EXEC: Crocs CEO Details Top 2023 Growth Drivers Inside The Analyst Call
Crocs, Inc’s results for the fourth quarter and year came in even better than a favorable pre-announcement issued in early January. On an analyst call, Andrew Rees, CEO, called out sandals and international as key growth drivers for the Crocs brand in the current year while also expecting Heydude to build on its ramped-up wholesale partner expansion in the U.S.
Crocs Q4 Revenues Surge 61 Percent; Beats Analyst Targets
Crocs, Inc. reported earnings rose 23 percent in the fourth quarter ended December 31. Sales surged 61 percent with a boost from the acquisition of Heydude. Sales of the Crocs brand grew 14.9 percent. Earnings topped analyst estimates.
Crocs’ Debt Ratings Outlook Revised To Stable
S&P Global Ratings revised its outlook on Crocs, Inc. to stable from negative on expectations that the company’s revenue and EBITDA would continue to grow despite a challenging macro environment.
2023 ICR: Crocs Expects Newness To Drive 2023 Growth
In a session at the 2023 ICR Conference, Crocs Inc.’s CEO Andrew Rees said the return of significant new product introductions for both the Crocs and Hey Dude brands is expected to stimulate growth in 2023 after innovation efforts were challenged over the pandemic.
Crocs, Inc. Expects 2022 Revenues To Increase 53 Percent
Crocs, Inc. expects 2022 revenues to surge approximately 53 percent to roughly $3.55 billion. The company had previously guided to growth of approximately 49 percent to 52 percent versus full-year 2021.
Crocs Expands Credit Agreement
Crocs increased the total commitments under its revolving credit line with Bank of America, PNC and five other lenders, by $150 million to $750 million, with a $250 million accordion feature, according to a regulatory filing.
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