Crocs Raises Full Year Revenue Guidance - Quick Facts

(RTTNews) - Crocs, Inc. (CROX) announced, for 2018, revenues to be 4 to 5% higher from 2017, up from prior guidance of a low single digit increase. With respect to the fourth quarter of 2018, the company expects: revenues of $195 to $205 million, including a negative currency impact estimated at $5 million.

With respect to 2019 revenues, the company expects a mid-single digit increase over 2018 revenues. Crocs anticipates that e-commerce and wholesale growth will more than offset lower retail revenues associated with reduced store count, which is expected to reduce revenues by approximately $25 million. Adding back that $25 million reduction, the company expects 2019 revenues to be up mid to high single digits over anticipated 2018 revenues.

For the third-quarter, revenues were $261.1 million, a 7.3% increase over the third quarter of 2017, or 9.3% on a constant currency basis. E-commerce grew 23.2%, wholesale grew 9.3%, and retail comparable store sales increased 15.0%. Net income attributable to common stockholders was $6.5 million, or $0.07 per diluted share, compared to a loss of $2.3 million, or a $0.03 loss per diluted share, in last year's third quarter.