Crocs, Inc. Reports Better-Than-Expected First Quarter Results Fueled by Outperformance in Both Crocs and HEYDUDE Brands
- Gross margin improved by 180 basis points to 57.8%
- Diluted EPS increased 13.2% to $2.83
- Crocs brand revenue grew 2.4% to $762 million
- International revenues increased 8.9% to $393 million
- Company executed $61 million in share repurchases
- DTC revenues grew 2.3% overall
- HEYDUDE brand revenues declined 9.8% to $176 million
- North America revenues decreased 3.8% to $369 million
- Company withdrew full-year 2025 guidance due to uncertainties
- SG&A expenses increased 7.8% to $319 million
- Operating income decreased 1.5% to $223 million
- Added $130 million in new debt during the quarter
Insights
Crocs reports strong Q1 but withdraws 2025 guidance amid global trade uncertainties, showing mixed signals for investors.
Crocs delivered a financially robust Q1 2025 despite macroeconomic headwinds, with consolidated revenues holding steady at
A closer examination reveals contrasting brand trajectories. The flagship Crocs brand grew
The most significant concern is management's decision to withdraw full-year 2025 guidance due to "macroeconomic uncertainties stemming from global trade policies." This unusual mid-year guidance withdrawal suggests severely limited visibility into future performance—a concerning signal for predictability.
Rising SG&A expenses (
Despite economic uncertainty, Crocs continues aggressive capital allocation, repurchasing
"We are incredibly proud of our better-than-expected first quarter performance despite what has been an increasingly volatile macroeconomic backdrop since the onset of the year. Both our Crocs and HEYDUDE brands contributed to the outperformance with gross margins, operating margins, adjusted earnings per share, and cash flow coming in above plan. Our financial strength enabled us to return shareholder value through
Mr. Rees continued, "While we are pleased by the performance of our overall business in April, the new global trade environment as well as business and consumer uncertainty, has made it challenging to predict how consumers may respond in the future. Amid this heightened operating backdrop, we are withdrawing our guidance for 2025. We are committed to remaining transparent to our investment community, our consumers, and our customers as we work to chart a winning course."
"We have a proven track record of coming out of periods of uncertainty stronger than when we entered them. I believe the current reality presents an opportunity to gain market share, as we focus on what we can control and lean into our clear, competitive advantages."
Amounts referred to as "Adjusted" or "Non-GAAP" are Non-GAAP measures and include adjustments that are described under the heading "Reconciliation of GAAP Measures to Non-GAAP Measures." A reconciliation of these amounts to their GAAP counterparts are contained in the schedules below.
First Quarter 2025 Operating Results (Compared to the Same Period Last Year)
- Consolidated revenues were
$937 million 1.4% on a constant currency basis. Direct-to-consumer ("DTC") revenues grew2.3% , or3.5% on a constant currency basis. Wholesale revenues contracted1.6% , or approximately flat on a constant currency basis. - Gross margin was
57.8% compared to55.6% . Adjusted gross margin grew 180 basis points to57.8% compared to56.0% . - Selling, general, and administrative expenses ("SG&A") of
$319 million 7.8% from$296 million 34.0% of revenues compared to31.5% . Adjusted SG&A of$319 million 17.8% from$271 million 34.0% of revenues compared to28.8% . - Income from operations of
$223 million 1.5% from$226 million 23.8% compared to24.1% . Adjusted income from operations of$223 million 12.5% from$255 million 23.8% compared to27.1% . - Diluted earnings per share of
$2.83 13.2% from$2.50 $3.00 - During the quarter, we borrowed
$130 million $61 million $100.23 $1.3 billion
First Quarter 2025 Brand Summary (Compared to Same Period Last Year)
- Crocs Brand: Revenues increased
2.4% to$762 million 4.2% on a constant currency basis.- Channel
- DTC revenues increased
1.1% to$285 million 2.5% on a constant currency basis. - Wholesale revenues increased
3.2% to$477 million 5.3% on a constant currency basis.
- DTC revenues increased
- Geography
North America revenues decreased3.8% to$369 million 3.4% on a constant currency basis.- International revenues increased
8.9% to$393 million 12.3% on a constant currency basis.
- Channel
- HEYDUDE Brand: Revenues decreased
9.8% to$176 million 9.5% on a constant currency basis.- Channel
- DTC revenues increased
8.3% to$65 million 8.3% on a constant currency basis. - Wholesale revenues decreased
17.9% to$111 million 17.4% on a constant currency basis.
- DTC revenues increased
- Channel
Balance Sheet and Cash Flow (March 31, 2025 as compared to March 31, 2024)
- Cash and cash equivalents were
$166 million $159 million - Inventories were
$391 million $392 million - Total borrowings were
$1,482 million $1,727 million - Capital expenditures were
$15 million $16 million
Financial Outlook
Due to macroeconomic uncertainties stemming from global trade policies, the Company is withdrawing its full year 2025 financial outlook that was provided on February 13, 2025, and is not providing a full year outlook at this time.
Conference Call Information
A conference call to discuss first quarter results is scheduled for today, Thursday, May 8, 2025, at 8:30 am ET. To receive conference call details, please register at the Investor Relations section of the Crocs website, investors.crocs.com. The webcast will also be available live and on replay through May 8, 2026 at this site.
About Crocs, Inc.:
Crocs, Inc. (Nasdaq: CROX), headquartered in
Forward Looking Statements
This press release includes estimates, projections, and statements relating to our business plans, commitments, objectives, and expected operating results that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
These statements include, but are not limited to, statements regarding our financial condition, brand and liquidity outlook, and expectations regarding our future financial results, share repurchases, our strategy, plans, objectives, expectations (financial or otherwise) and intentions, future financial results and growth potential, statements regarding future financial outlook and future profitability, cash flows, and brand strength, anticipated product portfolio and our ability to deliver sustained, highly profitable growth and create significant shareholder value. These statements involve known and unknown risks, uncertainties, and other factors, which may cause our actual results, performance, or achievements to be materially different from any future results, performances, or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include the factors described in our most recent Annual Report on Form 10-K under the heading "Risk Factors" and our subsequent filings with the Securities and Exchange Commission. Readers are encouraged to review that section and all other disclosures appearing in our filings with the Securities and Exchange Commission.
All information in this document speaks only as of May 8, 2025. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise, except as required by applicable law.
Category:Investors
CROCS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (in thousands, except per share data) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
Revenues | $ 937,333 | $ 938,633 | |
Cost of sales | 395,784 | 416,556 | |
Gross profit | 541,549 | 522,077 | |
Selling, general and administrative expenses | 318,575 | 295,648 | |
Income from operations | 222,974 | 226,429 | |
Foreign currency gains (losses), net | 4,873 | (2,273) | |
Interest income | 333 | 416 | |
Interest expense | (22,766) | (30,563) | |
Other income (expense), net | (475) | 20 | |
Income before income taxes | 204,939 | 194,029 | |
Income tax expense | 44,836 | 41,575 | |
Net income | $ 160,103 | $ 152,454 | |
Net income per common share: | |||
Basic | $ 2.85 | $ 2.52 | |
Diluted | $ 2.83 | $ 2.50 | |
Weighted average common shares outstanding: | |||
Basic | 56,110 | 60,564 | |
Diluted | 56,502 | 61,054 | |
CROCS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and par value amounts) | |||
March 31, | December 31, | ||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 166,460 | $ 180,485 | |
Accounts receivable, net of allowances of | 445,705 | 257,657 | |
Inventories | 391,298 | 356,254 | |
Income taxes receivable | 4,513 | 4,046 | |
Other receivables | 19,703 | 22,204 | |
Prepaid expenses and other assets | 46,267 | 51,623 | |
Total current assets | 1,073,946 | 872,269 | |
Property and equipment, net of accumulated depreciation of | 245,814 | 244,335 | |
Intangible assets, net of accumulated amortization of | 1,772,981 | 1,777,080 | |
Goodwill | 711,557 | 711,491 | |
Deferred tax assets, net | 893,610 | 872,350 | |
Restricted cash | 3,277 | 3,193 | |
Right-of-use assets | 335,783 | 307,228 | |
Other assets | 29,148 | 24,207 | |
Total assets | $ 5,066,116 | $ 4,812,153 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current liabilities: | |||
Accounts payable | $ 244,881 | $ 264,901 | |
Accrued expenses and other liabilities | 247,048 | 298,068 | |
Income taxes payable | 135,574 | 108,688 | |
Current operating lease liabilities | 77,693 | 68,551 | |
Total current liabilities | 705,196 | 740,208 | |
Deferred tax liabilities, net | 1,212 | 4,086 | |
Long-term income taxes payable | 601,088 | 595,434 | |
Long-term borrowings | 1,481,725 | 1,349,339 | |
Long-term operating lease liabilities | 303,284 | 283,406 | |
Other liabilities | 4,018 | 3,948 | |
Total liabilities | 3,096,523 | 2,976,421 | |
Commitments and contingencies | |||
Stockholders' equity: | |||
Common stock, par value | 111 | 110 | |
Treasury stock, at cost, 54.6 million and 53.9 million shares, respectively | (2,518,065) | (2,453,473) | |
Additional paid-in capital | 868,681 | 859,904 | |
Retained earnings | 3,721,939 | 3,561,836 | |
Accumulated other comprehensive loss | (103,073) | (132,645) | |
Total stockholders' equity | 1,969,593 | 1,835,732 | |
Total liabilities and stockholders' equity | $ 5,066,116 | $ 4,812,153 | |
CROCS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
Cash flows from operating activities: | |||
Net income | $ 160,103 | $ 152,454 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 18,537 | 16,161 | |
Operating lease cost | 24,186 | 20,244 | |
Share-based compensation | 8,777 | 7,582 | |
Asset impairment | — | 24,081 | |
Deferred taxes | 13,589 | 6,959 | |
Other non-cash items | (355) | 4,991 | |
Changes in operating assets and liabilities, net of acquired assets and assumed | |||
Accounts receivable | (183,607) | (179,899) | |
Inventories | (36,633) | (8,309) | |
Prepaid expenses and other assets | 3,516 | (7,843) | |
Accounts payable, accrued expenses and other liabilities | (71,094) | (62,563) | |
Right-of-use assets and operating lease liabilities | (23,901) | (20,265) | |
Income taxes | 19,647 | 18,833 | |
Cash used in operating activities | (67,235) | (27,574) | |
Cash flows from investing activities: | |||
Purchases of property, equipment, and software | (15,375) | (15,750) | |
Cash used in investing activities | (15,375) | (15,750) | |
Cash flows from financing activities: | |||
Proceeds from borrowings | 195,000 | 78,156 | |
Repayments of borrowings | (65,000) | (16,405) | |
Repurchases of common stock | (60,866) | — | |
Repurchases of common stock for tax withholding | (3,310) | (5,913) | |
Other | — | (1,007) | |
Cash provided by financing activities | 65,824 | 54,831 | |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 2,845 | (1,582) | |
Net change in cash, cash equivalents, and restricted cash | (13,941) | 9,925 | |
Cash, cash equivalents, and restricted cash—beginning of period | 183,678 | 153,097 | |
Cash, cash equivalents, and restricted cash—end of period | $ 169,737 | $ 163,022 | |
CROCS, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
In addition to financial measures presented on the basis of accounting principles generally accepted in
We also present certain information related to our current period results of operations through "constant currency," which is a non-GAAP financial measure and should be viewed as a supplement to our results of operations and presentation of reportable segments under GAAP. Constant currency represents current period results that have been retranslated using exchange rates used in the prior year comparative period to enhance the visibility of the underlying business trends excluding the impact of foreign currency exchange rate fluctuations.
Management uses non-GAAP results to assist in comparing business trends from period to period on a consistent basis in communications with the board of directors, stockholders, analysts, and investors concerning our financial performance. We believe that these non-GAAP measures, in addition to corresponding GAAP measures, are useful to investors and other users of our condensed consolidated financial statements as an additional tool for evaluating operating performance and trends by providing meaningful information about operations compared to our peers by excluding the impacts of various differences. The calculation of our non-GAAP financial metrics may vary from company to company. As a result, our calculation of these metrics may not be comparable to similarly titled metrics used by other companies.
Management believes Non-GAAP gross profit, Non-GAAP gross margin, and Non-GAAP gross margin by brand are useful performance measures for investors because they provide investors with a means of comparing these measures between periods without the impact of certain expenses that we believe are not indicative of our routine cost of sales. Our routine cost of sales includes core product costs and distribution expenses primarily related to receiving, inspecting, warehousing, and packaging product and transportation costs associated with delivering products from distribution centers. Costs not indicative of our routine cost of sales may or may not be recurring in nature and include costs to expand and transition to new distribution centers.
Management believes Non-GAAP selling, general and administrative expenses and Non-GAAP selling, general and administrative expenses as a percent of revenues are useful performance measures for investors because they provide a more meaningful comparison to prior periods and may be indicative of the level of such expenses to be incurred in future periods. These measures exclude the impact of certain expenses not related to our normal operations, such as costs related to the integration of HEYDUDE and other costs that are expected to be non-recurring in nature.
Non-GAAP income from operations and Non-GAAP operating margin reflect the impact of Non-GAAP gross profit and Non-GAAP selling, general, and administrative expenses, as discussed above. We believe these are useful performance measures for investors because they provide a useful basis to compare performance in the period to prior periods.
Non-GAAP income before income taxes reflects the impact of Non-GAAP income from operations, as discussed above. We believe this is a useful performance measure for investors because it provides a useful basis to compare performance in the period to prior periods.
Management believes Non-GAAP income tax expense is a useful performance measure for investors because it provides a basis to compare our tax rates to historical tax rates, and because the adjustment is necessary in order to calculate Non-GAAP net income.
Management believes Non-GAAP effective tax rate is a useful performance measure for investors because it provides an ongoing effective tax rate that they can use for historical comparisons and forecasting.
Management believes Non-GAAP net income is a useful performance measure for investors because it focuses on underlying operating results and trends and improves the comparability of our results to prior periods. This measure reflects the impact of Non-GAAP gross profit, Non-GAAP selling, general, and administrative expenses, and Non-GAAP income tax expense, as described above.
Management believes Non-GAAP basic and diluted net income per common share are useful performance measures for investors because they focus on underlying operating results and trends and improve the comparability of our results to prior periods. These measures reflect the impact of Non-GAAP gross profit, Non-GAAP selling, general, and administrative expenses, and Non-GAAP income tax expense, as described above.
Management believes Net leverage is a useful performance measure for investors because it provides a measure of our financial strength and liquidity.
Free cash flow is calculated as 'Cash provided by operating activities' less 'Purchases of property, equipment, and software.' Management believes free cash flow is useful for investors because it provides a clear measure of our ability to generate cash for discretionary uses such as funding growth opportunities, repurchasing shares, and reducing debt.
For the three months ended March 31, 2025, management believes it is helpful to evaluate our results excluding the impacts of various adjustments relating to special or non-recurring items. Investors should not consider these non-GAAP measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.
CROCS, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES (UNAUDITED) | |||
Non-GAAP gross profit and gross margin reconciliation: | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
(in thousands) | |||
GAAP revenues | $ 937,333 | $ 938,633 | |
GAAP gross profit | $ 541,549 | $ 522,077 | |
Distribution centers (1) | — | 3,242 | |
Non-GAAP gross profit | $ 541,549 | $ 525,319 | |
GAAP gross margin | 57.8 % | 55.6 % | |
Non-GAAP gross margin | 57.8 % | 56.0 % | |
(1) | During the three months ended March 31, 2024, adjustments primarily relate to costs to transition to our new HEYDUDE distribution center in |
Non-GAAP gross margin reconciliation by brand: | |||
Crocs Brand: | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
GAAP Crocs Brand gross margin | 60.7 % | 58.1 % | |
Non-GAAP Crocs Brand gross margin | 60.7 % | 58.1 % | |
HEYDUDE Brand: | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
GAAP HEYDUDE Brand gross margin | 46.6 % | 46.2 % | |
Non-GAAP adjustments: | |||
Distribution centers (1) | — % | 1.6 % | |
Non-GAAP HEYDUDE Brand gross margin | 46.6 % | 47.8 % | |
(1) | Represents transition costs to our new distribution center in |
Non-GAAP selling, general and administrative reconciliation: | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
(in thousands) | |||
GAAP revenues | $ 937,333 | $ 938,633 | |
GAAP selling, general and administrative expenses | $ 318,575 | $ 295,648 | |
Impairment related to information technology systems (1) | — | (18,172) | |
Impairment related to distribution centers (2) | — | (6,933) | |
Total adjustments | — | (25,105) | |
Non-GAAP selling, general and administrative expenses (3) | $ 318,575 | $ 270,543 | |
GAAP selling, general and administrative expenses as a percent of revenues | 34.0 % | 31.5 % | |
Non-GAAP selling, general and administrative expenses as a percent of revenues | 34.0 % | 28.8 % | |
(1) | Represents an impairment of information technology systems related to the HEYDUDE integration. |
(2) | Primarily represents an impairment of the right-of-use assets for our former HEYDUDE Brand warehouses in |
(3) | Non-GAAP selling, general and administrative expenses are presented gross of tax. |
Non-GAAP income from operations and operating margin reconciliation: | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
(in thousands) | |||
GAAP revenues | $ 937,333 | $ 938,633 | |
GAAP income from operations | $ 222,974 | $ 226,429 | |
Non-GAAP gross profit adjustments (1) | — | 3,242 | |
Non-GAAP selling, general and administrative expenses adjustments (2) | — | 25,105 | |
Non-GAAP income from operations | $ 222,974 | $ 254,776 | |
GAAP operating margin | 23.8 % | 24.1 % | |
Non-GAAP operating margin | 23.8 % | 27.1 % | |
(1) | See 'Non-GAAP gross profit and gross margin reconciliation' above for more details. |
(2) | See 'Non-GAAP selling, general and administrative expenses and selling, general and administrative expenses as a percent of revenues reconciliation' above for more details. |
Non-GAAP income tax expense (benefit) and effective tax rate reconciliation: | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
(in thousands) | |||
GAAP income from operations | $ 222,974 | $ 226,429 | |
GAAP income before income taxes | 204,939 | 194,029 | |
Non-GAAP income from operations (1) | $ 222,974 | $ 254,776 | |
GAAP non-operating income (expenses): | |||
Foreign currency gains (losses), net | 4,873 | (2,273) | |
Interest income | 333 | 416 | |
Interest expense | (22,766) | (30,563) | |
Other income (expense), net | (475) | 20 | |
Non-GAAP income before income taxes | $ 204,939 | $ 222,376 | |
GAAP income tax expense | $ 44,836 | $ 41,575 | |
Tax effect of non-GAAP operating adjustments | — | 7,141 | |
Impact of intra-entity IP transactions (2) | (9,572) | (10,438) | |
Non-GAAP income tax expense | $ 35,264 | $ 38,278 | |
GAAP effective income tax rate | 21.9 % | 21.4 % | |
Non-GAAP effective income tax rate | 17.2 % | 17.2 % | |
(1) | See 'Non-GAAP income from operations and operating margin reconciliation' above for more details. |
(2) | In the fourth quarter of 2024, and previously in 2023, 2021 and 2020, we made changes to our international legal structure, including an intra-entity transaction related to certain intellectual property rights, primarily to align with current and future international operations. The transactions resulted in a step-up in the tax basis of intellectual property rights and correlated increases in foreign deferred tax assets based on the fair value of the transferred intellectual property rights. This adjustment represents the current period impact of these transactions. |
Non-GAAP net income per share reconciliation: | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
(in thousands, except per share data) | |||
Numerator: | |||
GAAP net income | $ 160,103 | $ 152,454 | |
Non-GAAP gross profit adjustments (1) | — | 3,242 | |
Non-GAAP selling, general and administrative expenses adjustments (2) | — | 25,105 | |
Tax effect of non-GAAP adjustments (3) | 9,572 | 3,297 | |
Non-GAAP net income | $ 169,675 | $ 184,098 | |
Denominator: | |||
GAAP weighted average common shares outstanding - basic | 56,110 | 60,564 | |
Plus: GAAP dilutive effect of stock options and unvested restricted stock units | 392 | 490 | |
GAAP weighted average common shares outstanding - diluted | 56,502 | 61,054 | |
GAAP net income per common share: | |||
Basic | $ 2.85 | $ 2.52 | |
Diluted | $ 2.83 | $ 2.50 | |
Non-GAAP net income per common share: | |||
Basic | $ 3.02 | $ 3.04 | |
Diluted | $ 3.00 | $ 3.02 | |
(1) | See 'Non-GAAP gross profit and gross margin reconciliation' above for more information. |
(2) | See 'Non-GAAP selling, general and administrative expenses and selling, general and administrative expenses as a percent of revenues reconciliation' above for more information. |
(3) | See 'Non-GAAP income tax expense (benefit) and effective tax rate reconciliation' above for more information. |
Free cash flow reconciliation: | |||
Three Months Ended March 31, | |||
2025 | 2024 | ||
(in thousands) | |||
Cash used in operating activities | $ (67,235) | $ (27,574) | |
Purchases of property, equipment, and software | (15,375) | (15,750) | |
Free cash flow | $ (82,610) | $ (43,324) | |
CROCS, INC. AND SUBSIDIARIES REVENUES BY SEGMENT, CHANNEL, AND GEOGRAPHY (UNAUDITED) | |||||||
Three Months Ended | % | Constant % Change (1) | |||||
Favorable | |||||||
2025 | 2024 | Q1 2025- | Q1 2025- | ||||
($ in thousands) | |||||||
Crocs Brand: | |||||||
Wholesale | $ 170,682 | $ 180,337 | (5.4) % | (4.9) % | |||
Direct-to-consumer | $ 197,835 | $ 202,576 | (2.3) % | (2.0) % | |||
Total | 368,517 | 382,913 | (3.8) % | (3.4) % | |||
International: | |||||||
Wholesale | 306,122 | 281,665 | 8.7 % | 11.9 % | |||
Direct-to-consumer | 86,969 | 79,238 | 9.8 % | 13.9 % | |||
Total International | 393,091 | 360,903 | 8.9 % | 12.3 % | |||
Total Crocs Brand | $ 761,608 | $ 743,816 | 2.4 % | 4.2 % | |||
Crocs Brand: | |||||||
Wholesale | $ 476,804 | $ 462,002 | 3.2 % | 5.3 % | |||
Direct-to-consumer | 284,804 | 281,814 | 1.1 % | 2.5 % | |||
Total Crocs Brand | 761,608 | 743,816 | 2.4 % | 4.2 % | |||
HEYDUDE Brand: | |||||||
Wholesale | 110,693 | 134,753 | (17.9) % | (17.4) % | |||
Direct-to-consumer | 65,032 | 60,064 | 8.3 % | 8.3 % | |||
Total HEYDUDE Brand (3) | 175,725 | 194,817 | (9.8) % | (9.5) % | |||
Total consolidated revenues | $ 937,333 | $ 938,633 | (0.1) % | 1.4 % | |||
(1) | Reflects year over year change as if the current period results were in constant currency, which is a non-GAAP financial measure. See 'Reconciliation of GAAP Measures to Non-GAAP Measures' above for more information. |
(2) | |
(3) | The vast majority of HEYDUDE Brand revenues are derived from |
Investor Contact: | Erinn Murphy, Crocs, Inc. |
(303) 848-7005 | |
emurphy@crocs.com | |
PR Contact: | Melissa Layton, Crocs, Inc. |
(303) 848-7885 | |
mlayton@crocs.com |
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SOURCE Crocs, Inc.
FAQ
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