For the fourth quarter Crocs’ sales were up 61 per cent.

Revenues for the fullyear were up 54 per cent compared to 2021. Crocs brand revenues increased 14 percent. Wholesale revenues increased 17 per cent while direct to consumer revenues rose 12 per cent. In 2022, Crocs North America revenues increased six per cent while direct to consumer comparable sales were up by 11 per cent. Asia Pacific revenues surged 47 per cent while Europe, Middle East, Africa, and Latin America grew 47 per cent. Overall, income from operations increased by 24 per cent in 2022.

Consumer demand for the Crocs and HeyDude brands has been exceptional, fueling record 2022 revenues for both brands at a top-tier adjusted operating margin of 28 per cent. The company anticipates another record year in 2023 with growth expected to be led by sandals and international for the Crocs Brand and increased market penetration for HeyDude.

Crocs has industry-leading operating margins and generates robust cash flow as a result of the simplicity of its product lines and the high penetration of molded product. The company remains confident in gross leverage being below two times by the middle of this year giving it greater flexibility with capital allocation.Looking ahead, Crocs expects first-quarter 2023 revenues to grow approximately 27 per cent to 30 per cent compared to first-quarter 2022 revenues.