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Article Date: February 2024
Word Count: 529

Crocs Outperforms despite Heydude Weakness

A one-time $112 million tax benefit from the Heydude IP transfer sent net income soaring 84% in the final quarter of 2023 to $253,586,000 over $137,735,000 on a 2% revenue improvement to $960,097,000 from $945,162,000. Crocs brand sales increased 10% to $732 million, on a 12% DTC gain that offset a 7% wholesale decline. Pairs sold slipped 1% to 27 million, but increased 5% excluding the termination of the African distributor that was selling into the gray market. ASPs were up 12% to $26.76. North American sales were up 3% to ... Log in to view full article.


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