×
2 745
Fashion Jobs
JOHN LEWIS
General Operative – Warehouse
Permanent · DARWEN
HARRODS
Brand Manager
Permanent · LONDON
STRADIVARIUS
New Opening - Stradivarius Liverpool - General Manager
Permanent · LIVERPOOL
BOOHOO GROUP
Warehouse Operative - 3 on 3 Off - 06:00 - 18:00
Permanent · CRICK
SELFRIDGES
Events Coordinator Ftc
Permanent · BIRMINGHAM
DOROTHY PERKINS
Ecommerce Executive
Permanent · LONDON
VF INTERNATIONAL
Lead Warehouse Project Manager
Permanent · COALVILLE
JOHN LEWIS
Team Manager – Operations
Permanent · LEEDS
BEGG X CO
Sales Supervisor And Associate
Permanent · LONDON
BOOHOO GROUP
Warehouse Team Manager - pm Shift
Permanent · WELLINGBOROUGH
JOHN LEWIS
Section Manager Warehouse
Permanent · WEYBRIDGE
HARRODS
Supply Planning Assistant Manager
Permanent · THATCHAM
BOOHOO GROUP
Senior Operations Manager
Permanent · BURNLEY
MULBERRY
Commercial Finance Analyst
Permanent · LONDON
SELFRIDGES
Assistant Events Manager (Exchange Square)
Permanent · MANCHESTER
VF INTERNATIONAL
Lead Warehouse Project Manager
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Operations Manager
Permanent · COALVILLE
ESTEE LAUDER
le Labo - Fragrance Specialist - le Labo, Edinburgh - 40 Hrs/Week - Full Time, Permanent
Permanent · Édimbourg
HEAD OFFICE
Buyer, Apple
Permanent · LONDON
HEAD OFFICE
Buyer – Nursery & Baby
Permanent · LONDON
HARRODS
Buyers Clerk - Furniture And Bed & Bath
Permanent · LONDON
HARRODS
Senior Buyers Clerk - Fine Watches & Jewellery, Homeware & Furniture
Permanent · LONDON
Published
May 6, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Crocs Q1 sales surge 44%; earnings hit by freight, HeyDude acquisition expenses

Published
May 6, 2022

Crocs Inc. said on Thursday revenues during its first quarter surged 44%, with double-digit growth record across all distribution channels, prompting the U.S. footwear company to raise its full year guidance.


Total revenues ​increased 43.5% to $660.1 million or 46.7% on a constant currency basis, as compared to 2021. - Instagram: Sza


The Broomfield, Colorado-based company said total revenues ​increased 43.5% to $660.1 million, or 46.7% on a constant currency basis, as compared to 2021.

Crocs brand revenues reached $545.2 million, an increase of 18.5%, while HeyDude ​brand revenues were $114.9 million for the period following the closing of the acquisition on February 17 through March 31.

By channel, total direct-to-consumer (DTC) revenues grew 34.6%, while wholesale revenues increased 48.7% to $431.2 million.

By region, ​North America revenues totalled $319.5 million, up 19.5%, Asia-Pacific sales grew 16% to $95.8 million, and Europe, Middle East, Africa, and Latin America increased 17.9% to $129.9 million.

Despite the revenue uptick across all markets and retail segments, Crocs said earnings were hit by increased air freight and acquisition expenses, which saw net income fall to $​72.76 million, from $98.40 million in the same quarter last year. Diluted earnings per share dropped to $1.19, compared to $1.47 per share last year.

"Our first quarter revenue growth of 47% on a constant currency basis is a testament to the underlying strength of the Crocs and HeyDude brands," said Andrew Rees, chief executive officer.

Full-year consolidated revenues are forecast to grow between 52% and 55% compared to 2021.

"Consumer demand remains strong giving us the confidence to raise our full year outlook for revenue to approximately $3.5 billion, adjusted operating margin to 26% to 27%, and adjusted diluted earnings per share to $10.05 to $10.65."

Copyright © 2022 FashionNetwork.com All rights reserved.