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Crocs reaffirms Q3 and FY18 outlook

By Prachi Singh

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Business

Crocs, Inc. reiterated its guidance for the third quarter and full year ended December 31, 2018 said that the company continues to expect revenues of 240 to 250 million dollars compared to 243.3 million dollars in the third quarter of 2017 and full year revenues to increase low single digits over 2017 revenues of 1,023.5 million dollars, with double digit e-commerce growth and moderate wholesale growth to more than offset lower retail revenues due to operating fewer stores and business model changes.

Commenting on the update, Andrew Rees, Crocs President and Chief Executive Officer, said in a statement: “It’s been a good summer, and the momentum we saw throughout June and July has continued as back to school shopping escalated. Our clogs and sandals, in particular, continue to be in demand. We are well positioned for the balance of the year, and are reiterating our previously issued third quarter and full year 2018 guidance.”

The company expects third quarter gross margin to be approximately 50 basis points above last year’s 50.8 percent rate and full year gross margin to increase approximately 70 to 100 basis points over 2017 gross margin of 50.5 percent.

Picture:Facebook/Crocs

Crocs