Crocs, Inc. Revises Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2018; Provides Earnings Guidance for 2019
January 14, 2019 at 12:00 pm
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Crocs, Inc. updated its guidance for the fourth quarter and full year ended December 31, 2018. For the quarter, the company now anticipates fourth quarter revenues of $211 million to $214 million compared to prior guidance was $195 million to $205 million.
For the year, the company now anticipates 2018 revenues to grow approximately 6%. This compares to prior guidance predicting revenue growth of 4% to 5% over 2017 revenues of $1,023.5 million. The company now expects income from operations to be over $60 million, up from prior guidance of slightly under $60 million.
With respect to 2019 revenues, the company continues to expect a mid-single digit increase over 2018 revenues. Company anticipates that e-commerce and wholesale growth will more than offset lower retail revenues associated with reduced store count, which company expects to reduce revenues by approximately $25 million. Adding back that $25 million reduction, company would expect 2019 revenues to be up mid to high single digits over anticipated 2018 revenues.
Crocs, Inc. is engaged in the design, development, worldwide marketing, distribution, and sale of casual lifestyle footwear and accessories for women, men, and children. The Companyâs segments include Crocs Brand and the HEYDUDE Brand. The Companyâs Crocs Brand collection contains Croslite material, a molded footwear technology, delivering extraordinary comfort with each step. Its Croslite materials are formulated to create soft, comfortable, lightweight, non-marking, and odor-resistant footwear. The HEYDUDE Brand offers shoes with a versatile silhouette. It sells its products in more than 80 countries, through two distribution channels: wholesale and direct-to-consumer. Its wholesale channel includes domestic and international multi-brand retailers, mono-branded partner stores, e-tailers, and distributors; its direct-to-consumer channel includes Company-operated retail stores, Company-operated e-commerce sites, and third-party marketplaces.
CROCS, INC. 
