Crocs has posted a sales uplift for the fourth quarter highlighted by the continued growth at the Crocs brand and improvements at the HeyDude label.
The company’s revenues rose 3.1 per cent to $990 million, with direct-to-consumer sales up 5.5 per cent and wholesale sales down 0.2 per cent.
At the Crocs brand, revenues increased 4 per cent to $762 million. While sales in North America were flat, international revenues jumped 11.5 per cent.
HeyDude revenues were flat compared to a 17.4 per cent decline in the third quarter.
“Our fourth quarter performance exceeded expectations across all metrics, led by Crocs brand growth, as the North American business outperformed our plan and China growth accelerated from the third quarter,” said CEO Andrew Rees.
“HeyDude revenue was flat to last year, higher than anticipated as direct-to-consumer sales inflected to growth,” he added.
On the bottom line, income from operations fell 4.6 per cent but net income increased 45 per cent.
For the full year, the company’s revenues grew 3.5 per cent, with Crocs sales up 8.8 per cent and HeyDude down 13.2 per cent.
The company expects revenues to decrease 3.5 per cent in the first quarter of FY25 and increase 2-2.5 per cent for the full year.
