Crocs con­tin­ues to fo­cus on rev­enue

Shoes & Accessories - - The Month That Was Updates | International -

An­drew Rees, Pres­i­dent and Chief Ex­ec­u­tive Of­fi­cer, com­mented: “Dur­ing the sec­ond quar­ter, we con­tin­ued to re­vi­tal­ize the Crocs brand and drive im­prove­ment in the qual­ity of our rev­enues. A fa­vor­able re­sponse to our Spring/sum­mer 2017 col­lec­tion, par­tic­u­larly as it re­lates to clogs and san­dals, drove solid growth in these sil­hou­ettes. A fo­cus on our core molded prod­ucts and ef­fec­tive in­ven­tory man­age­ment en­abled us to de­liver gross mar­gins which ex­ceeded guid­ance, while our in­tense fo­cus on ex­pense man­age­ment kept SG&A be­low pro­jected lev­els. We are op­ti­mistic about the early re­sponse to our Fall/ Hol­i­day 2017 col­lec­tion, and an­tic­i­pate that the pos­i­tive sen­ti­ment seen to date will con­tinue through­out the sec­ond half of the year, de­spite the chal­leng­ing re­tail en­vi­ron­ment.” Crocs an­nounced rev­enue for the sec­ond quar­ter to­tal­ing 313.2 mil­lion US dol­lars, at the high end of their guid­ance for the pe­riod. On a con­stant cur­rency ba­sis, rev­enue de­creased by 2.7%, com­pared to the sec­ond quar­ter of 2016. In light of these re­sults the com­pany ex­pects third quar­ter 2017 rev­enue to be be­tween 230 mil­lion US dol­lars and 240 mil­lion US dol­lars.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.