Crocs achieves record full-year revenue

Footwear brand Crocs saw net income almost double last year amid higher revenue both in the US and international markets.

The company’s annual net income surged 46.7 per cent to $792.6 million as revenue increased 11.5 per cent to $3.96 billion.

The Crocs brand’s revenue climbed 13.3 per cent to $3.0 billion, with North American revenue growing 8.1 per cent to $1.8 billion and international revenue soaring 21.7 per cent to $1.2 billion.

Meanwhile, the Heydude brand’s revenue went up 6.0 per cent to $949 million.

In the fourth quarter, the group’s net income skyrocketed 84.1 per cent to $253.6 million while revenue rose 11.5 per cent to $3.96 billion.

“Crocs Brand grew across all regions and channels, highlighting the power of our strategy and disciplined execution,” said Crocs CEO Andrew Rees.

“We made good progress in the fourth quarter towards returning our Heydude brand to a pull-market position resulting in improved gross margins and healthy inventory levels exiting the year.”

For this year, the company forecasts group revenue to grow between 3 per cent and 5 per cent. The Crocs brand’s revenue is estimated to increase 4 per cent to 6 per cent while the Heydude brand’s revenue may remain flat or slightly go up.

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