Retail sales revenues up at CROCS

20 Feb '09

4 min read

Selling, general and administrative expenses, including foreign currency exchange rate gains and losses, for the three months ended December 31, 2008 were $97.6 million or 77.4% of revenues compared to $71.9 million or 32.0% of revenues in the three months ended December 31, 2007. Selling, general and administrative expenses, including foreign currency exchange rate gains and losses, for the year ended December 31, 2008, were $368.8 million or 51% of revenues, compared to $260 million or 30.0% of revenues for the year ended December 31, 2007.

On a non-GAAP basis selling, general and administrative expenses, excluding foreign currency exchange rate gains and losses, for the three months ended December 31, 2008 decreased approximately $13.3 million to $76.5 million from $89.8 million, excluding foreign currency exchange rate gains and losses, for the three months ended September 30, 2008 as a result of cost reductions actions in the following areas:
· Sales and marketing;
· Corporate sponsorships;
· Trade shows;
· Legal expense;
· Consulting and contract labor;
· Travel expenses;
· Reduction of our global headcount; and
· Reduction in our capital expenditures from initial plan levels.

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