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

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Indian e-retail market may see 250% growth in 3 yrs: Crisil

Apparel/Garments | On 22nd Feb 2018

Indian e-retail market may see 250% growth in 3 yrs: Crisil

India’s e-retail market may rise by 250 per cent in the next three...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Urmil Arya

Sushila International, a well established textile organisation established ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harmeet Singh

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Amiben Shroff
Shrujan

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search