Crocs Q1 revenue increases 19.9%

Thursday, 26 April 2012

Crocs, Inc. reported financial results for the first quarter ended March 31, 2012. The revenue for the quarter increased 19.9% to $271.8 million, over revenue of $226.7 million reported in the same quarter of 2011. Net income for the first quarter 2012 was $28.3 million, compared to net income of $21.5 million in the first quarter of 2011.

Crocs sales growth for the quarter was driven by Asia and Americas which was partially balanced by a slight decrease in Europe. Geographically, revenue increased 17.1% for America, 40.5% for Asia and decreased 2.7% for Europe.

The company ended the quarter with 439 retail store locations, which compares to 371 locations a year ago. Global same store sales for the first quarter of 2012 increased 10.2% during the quarter on a currency neutral basis. For the full year, the company continues to expect to open 80 to 100 net store locations. Internet sales increased 23.3% to $20.5 million, over sales of $16.7 million in the first quarter of 2011.

Based in Colorado, Crocs manufactures casual footwear for men, women and children. It offers several distinct shoe collections with more than 250 styles. Its products are sold in 90 countries.