Crocs Lifts Q4 Revenue View Above Market Estimates; Backs FY17 Forecast

(RTTNews) - Crocs, Inc. (CROX), a provider of casual footwear for men, women and children, Monday lifted its fourth-quarter revenue guidance to between $195 and $198 million from previously expected between $180 and $190 million. The new outlook approximates 5% growth over the prior year's fourth quarter revenues of $187.4 million. On average, seven analysts polled by Thomson Reuters expect revenues of $186.66 million for the quarter. Analysts' estimates typically exclude special items.

The company also increased its fourth quarter expected gross margin guidance by 200 basis points to approximately 45% from approximately 43%, a 300 basis point increase over the prior year's fourth quarter gross margin. The company now expects SG&A to be relatively flat to last year's fourth quarter SG&A of $118.5 million.

Further, for fiscal 2017, the company continues to expect 2017 revenues to be down low single digits compared to $1.036 billion in 2016, and gross margin to be approximately 50%.

Analysts estimate full-year revenues of $1.01 billion. The company said the revision in guidance is in anticipation of its presentation at the 20th Annual ICR Conference.