Colarado-based firm, Crocs Inc, recorded a 6.2 per cent rise in revenues during Q1,FY24. The firm’s revenues grew to $939 million during the quarter with the brand Crocs’ revenues offsetting a double-digit decline in HeyDude sales.

Revenues of the brand Crocs increased by 14.6 per cent to $744 million during the quarter. The firm’s DTC revenues increased by 18.3 per cent to $282 million while wholesale revenues expanded to $462 million. Crocs’revenues in North America also increased by 9 per cent to $383 million while international revenues surged 21.3 per cent to $361 million.

On the other hand, revenues of the brand HeyDude declined by 17.2 per cent to $195 million while DTC revenues declined by 11 per cent to $60 million. The company also recorded a 19.7 per cent decline in wholesale revenues to $135 million.

During the three months, Crocs’ income from operations decreased by 3.6 per cent to $226 million from $235 million, resulting in operating margin of 24.1 per cent

Crocs aims to reduce its revenue expectations for the brand HeyDude for the remainder of the year, says Andrew Rees, CEO. The company is confident of the opportunity for the brand in the long-term. It has appointed Susan Healy as Executive Vice President and Chief Financial Officer of Crocs Inc, effective June 3.

Healy succeeds Anne Mehlman, who will continue to serve as chief financial officer until Healy resumes duties. She will join the executive leadership team and report directly to Andrew Rees, CEO.

With over three decades of financial and operational leadership experience, Healy joins Crocs, Inc. from IAA, Inc, where she served as chief financial officer and led the company through its $7 billion merger with Ritchie Bros. Auctioneers Incorporated.

Prior to 2021, Healy served as senior vice president of finance for Ulta Beauty. Earlier in her career, she held various senior financial leadership roles in addition to a 12-year tenure at Goldman Sachs.