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Article Date: November 2017
Word Count: 350

Crocs Narrows Loss in Q3 on SG&A Savings

Net loss was halved to $2,263,000 against a loss of $5,352,000 kept out of the black by the preferred stock dividend payment, as revenues declined 1% to $243,273,000 from $245,888,000 in the third quarter. The $3.8 million quarterly dividend is for Blackstone’s Series A convertible preferred stock, sold to the PE firm when CROX was at its 2013 nadir. Americas sales increased 5% to $120.5 million, Europe gained 6% to $42.5 million and Asia Pacific slipped 12% to $80.0 million. Clogs accounted for 52% of sales driven by classics and Crocband in new colors and licensed images. Sandals also performed ... Log in to view full article.


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