Crocs Q3 sales up 6% on Asia Pacific surge
Crocs
The Broomfield, Colorado-based company said Crocs brand revenues increased 11.6% to $798.8 million. DTC comparable sales increased 15.3%, while wholesale revenues increased 4.5%.
By region, North America revenues increased 8% to $480.7 million increased, outdone by a 26.5% increase in Asia Pacific revenues to $175.2 million, while Europe, Middle East, Africa, and Latin America revenues rose 8.3% to 142.8 million.
Elsewhere, HeyDude brand revenues during the third quarter decreased 8.3% to $246.9 million, with DTC revenues up14.6% to $100.4 million, offset by a 19.4% decline in wholesale revenues to $146.5 million
”We delivered a strong third quarter, exceeding the high-end of our guidance, led by double-digit revenue growth in our Crocs brand supported by healthy full-price selling and industry-leading operating margins,” said Andrew Rees, chief executive officer.
“Both
Looking ahead, Crocs said full-year 2023 consolidated revenue is expected to grow approximately 10% to 11% compared to 2022, resulting in revenues of approximately $3.905 billion to $3.94 billion at currency rates as of the end of the last reported period.
