Crocs Shrinks Loss in Q4, Sees Flat 2018
Net loss narrowed to $28,272,000 from a loss of $44,482,000 in the seasonally small final quarter on 6% higher revenues of $199,112,000 up from $187,417,000 driven by a 16% increase in wholesale which included a big gain in sales to e-tailers. Gross margin improved by 340 basis points to 45.4% on sales mix of high-margin molded footwear, and CROX continued working down SG&A, which was 260 b.p. lower, saving $2.2 million. One-time charges for the SG&A reduction plan were $3.1 million and the company also incurred a $6.3 million non-cash impairment charge in the quarter. Clogs accounted for 57% of ... Log in to view full article.