×
3 414
Fashion Jobs
COTY
Brand Manager
Permanent · London
MULBERRY
Digital Stock & Warehouse Coordinator
Permanent · SHEPTON MALLET
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · NORTH LYNN INDUSTRIAL ESTATE
SHISEIDO
Shiseido Account Manager - h Beauty Milton Keynes (37.5 Hours)
Permanent · Milton Keynes
FRASERS GROUP
Warehouse Supervisor - Night Shift
Permanent · SHIREBROOK
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
COACH
Brand & Media Manager
Permanent · London
REISS
Brand & Comms - Marketing Manager
Permanent · LONDON
HEAD OFFICE
Digital Product Manager – Identity And Account
Permanent · LONDON
HEAD OFFICE
Senior Marketing Planning Manager – John Lewis Financial Services
Permanent · LONDON
HEAD OFFICE
Buyer, Waitrose & Partners (Level 7)
Permanent · BRACKNELL
JOHN LEWIS
Loss Prevention Partner
Permanent · DARTFORD
HEAD OFFICE
Buyer, Waitrose & Partners (Level 5)
Permanent · BRACKNELL
SELFRIDGES
Product Manager
Permanent · LONDON
NEW LOOK
Sales Manager
Permanent · METROCENTRE
FRASERS GROUP
HR Business Partner
Permanent · SHIREBROOK
EVERLAST GYMS
General Assistant - Everlast Fitness (Maternity Cover)
Permanent · ROYTON
PHV
Marketing Executive, UK, Ireland & Nordics (Tommy Hilfiger)
Permanent · London
JIGSAW
Warehouse Operative
Permanent · SWINDON
TJX EUROPE
Loss Prevention Graduate Programme (2023)
Permanent · Grand Londres
ZARA
Visual Merchandising Manager (Kidswear) - Zara - Kingston
Permanent · KINGSTON UPON THAMES
Ads
Published
Oct 30, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Crocs predicts record annual sales on strong third quarter

Published
Oct 30, 2019

Crocs has announced an impressive 19.8% increase in revenue in the third quarter (21.0% in constant currencies), progress which drove expectation-beating earnings and led the Niwot, California-based footwear company to raise its full-year guidance to record levels.


Crocs has upped its full-year guidance following a solid third quarter - Instagram: @crocs

 
Crocs’ net revenues for the third quarter ended September 30, 2019, totaled a record $312.8 million, up from the $261.1 million reported by the company in Q3 2018.
 
By channel, the company’s e-commerce revenues were the fastest growing, boasting a 28.2% year-over-year increase, but both the wholesale channel and retail comparable store sales also saw solid growth of 25.4% and 12.5%, respectively.

Crocs’ quarterly net income came to $35.7 million, up from $6.5 million in the same period in the previous year, while diluted earnings per share (EPS) were $0.51, up from $0.07.
 
The company’s adjusted EPS was $0.57, beating out the $0.39 FactSet estimate cited by MarketWatch by quite some way.
 
Year to date, Crocs’ revenues jumped 10.9% to $967.6 million, compared to $872.2 million in the first nine months of fiscal 2018, while net income hit $99.6 million, or $1.38 per diluted share, up from $61.3 million, or $0.58 per diluted share.
 
Speaking of the company’s fourth-quarter results in detail, Crocs President and CEO Andrew Rees pointed out that the brand had seen particular growth in the Americas, thanks in part to another strong back to school season.
 
This seasonal boost was no doubt helped by the rise of the so-called VSCO girl trend among teenagers. Named after the VSCO photo editing app, the trend is built around strong brand association and has incorporated Crocs as one of its key references, along with the likes of Birkenstock and Fjallraven Kanken.
 
“Based on the strength of our recent performance and start to the fourth quarter, we are raising our full year guidance to 11% to 12% revenue growth over 2018, which would result in record annual sales for our company,” Rees added.
 
Crocs’ previous full-year revenue guidance for fiscal 2019 predicted an increase in the range of 9% to 11%.
 
In the fourth quarter, the company expects to achieve revenues of between $245 and $255 million, compared to $216.0 million in Q4 2018.
 
Crocs further provided a preview for 2020, laying out an initial forecast predicting annual revenue growth of between 12% and 14%.
 
The company’s stock rose 3.9% in pre-market trading on Wednesday, following the release of its results.
 
On Wednesday, Crocs also announced the appointment of Indian actress, singer and film producer Priyanka Chopra Jonas as its new global brand ambassador as part of its ongoing “Come As You Are” campaign.
 
The campaign’s previous faces have included American entertainer Zooey Deschanel and British actress Natalie Dormer, as well as South Korean singer Kim Sejeong, Chinese actress Gina Jin, and Japanese actress and model Suzu Hirose.

Copyright © 2023 FashionNetwork.com All rights reserved.