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Crocs registers 7.6% growth in global revenues

  

Crocs, Inc reported $331.5 million in global revenues in Q2 FY2020. This was a 7.6 percent decline from the second quarter of 2019, or 6 percent on a constant currency basis. Four out of five locations of the company including United States, Korea, China, and Germany registered growth. It’s global e-commerce revenues increased by 67.7 percent with strong growth in all regions. The company’s operating margin rose approximately 380 basis points to 17.1 percent and adjusted operating margin increased approximately 800 basis points to 22.3 percent. The company added diluted earnings per share grew 50.9 percent to 83 cents or 71.2 percent to 1.01 dollars on an adjusted basis.

As of June 30, 2020, 98 percent of the company-operated stores were open. In the Americas, the company closed its stores in mid-March and started to reopen in mid-May. Currently, the majority of its stores in the United States are open. In Asia, outside of China and Korea, most of the company-operated stores were closed for the majority of the quarter, while in EMEA region, stores in Western Europe closed in mid-April and reopened in mid-May, while stores in Russia closed in early April and reopened in early June.

 
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