Home / Knowledge / News / Fashion / Retail sales revenues up at CROCS
Retail sales revenues up at CROCS
20
Feb '09
Crocs Inc. reported financial results for the fourth quarter and fiscal year ended December 31, 2008.

Revenues for the three months ended December 31, 2008 decreased 43.9% to $126.1 million compared to $224.8 million for the three months ended December 31, 2007. Revenues for the year ended December 31, 2008 decreased 14.8% to $721.6 million compared to $847.4 million for the year ended December 31, 2007.

For the year ended December 31, 2008, compared to the year ended December 31, 2007, changes in our regional revenue streams include the following:
· Revenue in Asia increased 22.4% to $204.9 million;
· Revenue in Europe decreased 16.2% to $150.7 million; and
· Revenue in the Americas decreased 26.9% to $366 million.

For the year ended December 31, 2008, changes in our channel revenue streams include the following:
- Revenues generated from retail sales increased 68.7% to $125.8 million;
- Revenues generated from internet sales increased 28.9% to $43.7 million; and
- Revenues generated from wholesale sales decreased 25.3% to $552.1 million.

The Company reported a net loss of $33.2 million, or ($0.40) per diluted share for the three months ended December 31, 2008 compared to net income of $38.3 million, or $0.45 per diluted share for the three months ended December 31, 2007. The reported net loss of $33.2 million during the three months ended December 31, 2008 includes approximately $21.1 million in pre-tax foreign currency exchange rate non cash losses primarily on intercompany balances and approximately $0.90 million in pre-tax, restructuring charges primarily related to the shutdown of the Company's manufacturing facility in Brazil.

Excluding the foreign currency exchange rate losses, net of tax, during the quarter of $16.1 million, or ($0.20) per diluted share, the Company's non-GAAP net loss amounted to $17.1 million or ($0.20) per diluted share in the three months ended December 31, 2008.

The Company reported a net loss of $183.6 million or ($2.22) per diluted share for the year ended December 31, 2008 compared to net income of $168.2 million or $2.00 per diluted share for the year ended December 31, 2007. The reported loss of $183.6 million includes the following pre-tax charges:
- $25.4 million in non-cash foreign currency exchange rate losses primarily on intercompany balances;
- $8.6 million in restructuring charges related to the shutdown of the Company's manufacturing facilities in Brazil and in Canada;
- $65.4 million representing the net non-cash change of inventory write-downs from December 31, 2007 to December 31, 2008
- $45.8 million in non-cash asset impairment charges related to goodwill, intangible assets and the write-off of excess equipment and tooling.

Excluding these non-cash charges, non-GAAP net loss for 2008 was $37.2 million or ($0.44) per diluted share.

Gross profit for the three months ended December 31, 2008 was $56.0 million or 44.4% of revenues, compared to $125.8 million or 56.0% of revenues for the three months ended December 31, 2007. Gross profit for the year ended December 31, 2008 was $234.0 million or 32.4% of revenues, compared to $497.6 million or 58.7% of revenues for the year ended December 31, 2007.


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search