October 25, 2012

Crocs revenue up by 7.5% in Q3 2012

US footwear brand Crocs has reported a 7.5% rise in revenue to $295.6 m for the third quarter ended 30 September 2012, compared to $274.9m for the same quarter in 2011.

By admin-demo

US footwear brand Crocs has reported a 7.5% rise in revenue to $295.6m for the third quarter ended 30 September 2012, compared to $274.9m for the same quarter in 2011.

The firm’s net income totaled $45.1m for the third quarter 2012, as against $30.2m in the corresponding period for the previous year.

Crocs wholesale sales for the quarter were $156.2m, an increase of 1.5% up from $154m in the same quarter of previous year.

The firm’s sales through internet channel grew 6% to $27.1m compared to $25.6m in the third quarter of 2011.

Crocs sales through retail channel rose 17.7% to $112.2m as against $95.3m for the same quarter in the prior year.

According to the firm, sales growth during the quarter was driven by strength in the Americas and Asia.

Geographically, revenue increased 7.4% for the Americas, 11.3% for Asia, while the revenue from Europe decreased 2.9%, Crocs said.

Crocs president and chief executive officer John McCarvel said the revenue growth during the third quarter reflects the benefit of balanced distribution channels globally.

"Our direct to consumer channel in the Americas increased 12% on year-over-year basis, highlighted by a mid single digit same store sales gain, and our expanded presence in Asia resulted in a direct to consumer sales increase of 17% in that region," McCarvel added.

Crocs is a manufacturer, designer, distributor and retailer of footwear and accessories for men, women and children, based in the US. Its products include shoes, sandals, clogs, boots, slip-ons, bags, socks, caps, knee pads and other related products.

The company markets its products through its brands including the Crocs Rx, Crocs Work, Ocean Minded, and Jibbitz.

Headquartered in Niwot, Colorado, Crocs operates 180 retail stores, 92 outlet stores and 158 retail kiosks and store in stores. It operates in 129 countries including Mexico, Canada and the US.