US: Asia Pacific drives Crocs Q1 profit
- Q1 net profit up 2.5% to US$29m
- Revenues up 14.7% to $311.7m
- Comparable store sales down 5.2%
Success in Asia Pacific was the key component of a slight increase in first quarter profit for footwear business Crocs, which reported a double-digit revenue increase.
Comparable store sales fell globally by 5.2% in the first quarter of 2013, with the Americas falling by 10.3%, Europe down 7.3%, Japan down 5.8% and Asia Pacific rising 7.3%.
“During the quarter we saw strong sell-in of our spring and summer line into our wholesale accounts globally and solid initial sell-through in our own retail channel, all of which contributed to a 17% constant currency revenue growth during the quarter,” said John McCarvel, president and ceo.
“The Asia Pacific segment of our business was a key component of our success during the quarter.
“While weather did impact consumers in North America and Europe, and Europe also dealt with ongoing macro-economic issues, we did see early signs of recovery in Japan.”
Speakers from Crocs Shoes, DIM/DB Apparel and Nash International are among those lined up to discuss issues related to omni-channel retail, supplier collaboration and preserving margins at a sourcing ...
Footwear specialist Crocs has appointed former Wal-Mart Stores executive Greg Sullivan as its new general manager for the Americas region....
US footwear maker Crocs has appointed Tim Lyons as its European retail director, with responsibility for overseeing the company's retail business in Europe....
Footwear maker Crocs has lowered its third quarter earnings and sales guidance on lower-than-expected revenue in the Americas region....
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