299
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
Published
Nov 9, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Crocs keeps sales and profit growth on track in Q3

Published
Nov 9, 2018

Niwot, Colorado-based footwear company Crocs, Inc. announced continued progress in sales and profits on Thursday, as the brand managed to achieve solid growth in the third quarter despite sales losses related to a reduced store count.


Crocs reported revenues of $261.1 millionin Q3 2018 - Instagram: @crocs

 
The company reported revenues of $261.1 million in the quarter ended September 30, 2018, a 7.3% increase (9.3% in constant currencies) compared to the $243.2 million posted in Q3 2017. In a press release, Crocs pointed out that this growth was achieved despite losses amounting to around $15 million due to a reduced store count and changes made to the company’s business model.
 
The company’s sales saw particularly strong growth in the e-commerce channel, where they rose 23.2%, while wholesale grew 9.3% and retail comparable-store sales increased 15.0%.


Croc’s income from operations in the quarter totaled $13.9 million, up from $2.7 million in the prior-year period, while net income came to $6.5 million, compared to a loss of $2.3 million.
 
Year to date, the company’s revenues totaled $872.2 million, compared to $824.4 million in the same period in the previous year, while net income was $49.5 million, up from $23.0 million.
 
“We achieved these strong results by continuing to grow our brand strength and demand for our clogs and sandals,” said Crocs President and CEO Andrew Rees in the company’s release. “We anticipate a strong finish to the year and have increased our 2018 guidance accordingly, and we are excited about our growth prospects for 2019.
 
In light of its positive results, Crocs announced that it has updated its full-year outlook for 2018. Instead of its previous guidance of $50 million, the company now expects income from operations to be slightly under $60 million, up from the $17.3 million reported last year. Revenues are predicted to increase by 4 to 5% compared to 2017’s $1,023.5 million, up from the company’s previous guidance of a low-single-digit increase.
 
In Q4, the company expects to achieve revenues of between $195 and $205 million, compared to $199.1 million in the fourth quarter of 2017.

Crocs also gave a preview of 2019, when it expects revenues to rise in the mid-single digits compared to 2018, with growth in e-commerce offsetting $25 million in lost sales due to a lower store count.
 
At the beginning of this month, the company continued a string of high-profile creative partnerships, which has seen the brand team up with the likes of luxury label Balenciaga and actress Drew Barrymore, through a collaboration with rapper Post Malone. This latest collaborative offering sold out within a matter of minutes upon release, suggesting that Crocs may well have every reason to be optimistic.

Copyright © 2024 FashionNetwork.com All rights reserved.