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Crocs Q3 revenue up 73 per cent


US-based footwear maker Crocs’ revenue for the third quarter rose 73 per cent compared to the same period in previous year. Crocs experienced strong revenue growth in all geographies during the quarter but saw particularly impressive progress in the Americas, where revenues were up 94.5 per cent on a constant currency basis year over year.

In Europe, the Middle East and Africa sales rose 43.8 per cent in constant currencies while in the Asia-Pacific region they increased 21.2 per cent. Direct-to-consumer sales at the company rose 60.4 per cent while wholesale revenues increased 88.2 per cent. Digital sales increased 68.9 per cent and represented 36.8 per cent of Crocs’ total revenues during the quarter, compared to 37.7 per cent in the third quarter of 2020 and 32.2 per cent in the third quarter of 2019.

For Crocs the third quarter was exceptional, underscored by an industry-leading operating margin of 32 per cent. Despite the temporary disruptions, it expects 2022 revenues to grow over 20 per cent from 2021 fueled by the strength of its brand and consumer demand globally. Crocs also increased its full-year financial outlook. It now expects to report revenue growth of between 62 per cent and 65 per cent in fiscal 2021.