Crocs Raises Q4 Guidance, Updates Turnaround Progress
Strong Holiday sales pushed revenues up to $195 to $198 million in the seasonally small fourth quarter, up from previous guidance of $180 to $190 million, and gross margin is now expected to be around 45% instead of 43%. SG&A will be about flat year-on-year, but that includes $8 million in unplanned one-time charges in Q4 this year. Full-year 2017 guidance is for sales down low-single digits, gross margin of around 50% and SG&A down $8 million despite an additional $16 million in restructuring and other charges vs. last year. Preliminary 2018 guidance calls for flat revenues with $50 million ... Log in to view full article.