Crocs raises Q4 guidance
Crocs, Inc. increased its fourth-quarter 2017 guidance, this Monday, and updated its full year guidance for the periods ended December 31, 2017.
The brand raised its Q4 revenue guidance from between $180 and $190 million to between $195 and $198 million, approximating 5% growth over the previous year’s Q4 revenues of $187.4 million.
The company has also raised its fourth quarter expected gross margin guidance from 43% to approximately 45%, an increase of 200 basis points, giving a guidance which amounts to a rise of 300 basis points over the prior year.
Full year revenues are still expected to be down on last year’s $1.036 billion by low single figures.
SG&A is predicted to be fairly flat in Q4 compared to the prior year’s $118.5 million, including $8 million of one-time charges. The company expects full year SG&A to be down to $498 million from 2016’s $506 million.
Crocs, Inc. was founded in Niwot, Colorado, in 2002 and rose to fame thanks to its polarizing footwear made from the propriety foam resin Croslite. The brand shocked audiences at last year’s spring-summer Paris Fashion Week in October, when a platform version of its (in)famous signature clogs featured in Demna Gavasalia’s runway show for Balenciaga.
The brand also announced it would be presenting at the 20th Annual ICR Conference being held in Orlando, Florida, on January 8.
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