Crocs hails ‘record year’ driven by bumper sales
Crocs reported a "record year" in the wake of its full year results, driven by its highest ever sales.
Crocs reported a “record year” in the wake of its full year results, driven by its highest ever sales.
The shoe retailer saw revenues rise 3.5% to £3.2bn for the year ended 31 December, making them 4% above its sales for 2023.
Direct to consumer sales were up 7.2%, while wholesale revenues increased 0.2% over the period.
Sales for the company’s sub brand HeyDude fell 13.2% year on year to £654m.
Over its fourth quarter, the footwear specialist saw sales hit £785.68m as direct to consumer revenues increased 5.5%.
Related Story
Crocs CEO Andrew Rees said: “We delivered another record year for Crocs highlighted by revenue growth of 4% to $4.1bn (£3.2bn) and adjusted earnings-per-share growth of 9%.
“We generated exceptional operating cash flow of approximately $990m (£786m), which enabled us to return value to shareholders through more than $550m (£436m) in share repurchases, while fortifying our balance sheet through the pay down of approximately $320m (£254m) of debt.”
“For 2025, we are expecting another year of revenue growth, led by mid-single digit growth in the Crocs brand.
“We are pleased by the early signs of progress we made for [sub brand] Hey Dude during the fourth quarter and are taking a prudent approach to how we shape 2025 guidance for Hey Dude as we focus on reigniting the brand.”
Crocs has bounced back in recent years, winning over Gen Z shoppers as it saw revenue rising by over 50% in 2022, following “exceptional consumer demand”.
Housebound shoppers also embraced the shoes during the pandemic, with sales up 67% in 2021 and profits soaring 219%.
Click here to sign up to Retail Gazette‘s free daily email newsletter
