Crocs Raises Full-Year Outlook Driven by International Growth and HEYDUDE Recovery
Crocs (CROX) has raised its full-year financial guidance for the third consecutive time following a strong third quarter. Total revenue rose 4.6% to $1.04 billion, fueled primarily by an 11.8% increase in international sales and a return to growth for the HEYDUDE brand, which saw revenue rise 6.1%. While North American Crocs brand revenue declined by 2.1%, robust direct-to-consumer performance overseas helped offset domestic weakness. Profitability showed significant improvement, with adjusted operating income growing 11.7% and adjusted gross margins rising to 60.3%. Although GAAP earnings were heavily inflated by a one-time $64 million tariff refund, the underlying business demonstrated strength through improved margins and an 11% reduction in share count due to aggressive buybacks. Management now expects full-year revenue growth of approximately 3%, up from previous estimates.
Topics: EPS Beat Guidance Raise International Expansion Operating Margin Revenue Growth
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