restricted stock units, Non-GAAP weighted average common shares outstanding - diluted. improved by 410 basis points to 35.3% of revenues compared to 39.4% in In 2019, Crocs declares that expressing yourself and being comfortable are not mutually exclusive. Calculation SG&A charges, adjusted income from operations rose 21.5% to $34.5 CROCS, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES. See ‘Impacts on revenue of segment composition change’ table below for more information. Adjustment reflects the dilutive impact of stock options and Change your mind? Risk Free Shopping. On a GAAP basis, gross margin is expected to be approximately 49.5%, which includes non-recurring charges of approximately 100 basis points associated with the Company’s new distribution center. Post Malone donating 10,000 of his sold-out Crocs to frontline workers Frontline workers across the country are getting their hands on some Crocs many others cannot. We also present certain information related to our current period Gross margin was 52.8%, compared to 55.3% in last year’s second quarter. They sold for $60 and were available in women’s sizes 6-12 and men’s sizes 4-13. Conversion"). During the second quarter of 2019, the Company repurchased approximately 2.5 million shares of its common stock for $55.0 million, at an average price of $21.89 per share. https://www.businesswire.com/news/home/20190507005315/en/, Investor Contact: With respect to 2019, the Company now expects: With respect to the third quarter of 2019, the Company expects: A conference call to discuss second quarter 2019 results is scheduled for today, Thursday, August 1, 2019 at 8:30 a.m. EST. Revenues were $328.0 million, growing 4.7% over the second quarter of 2017, or 2.3% on a constant currency basis. Adjustment adds back quarterly dividends and dividend equivalents RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES. and that audio recording will be available at www.crocs.com The vast majority of shoes within Crocs’ collection contains Croslite™ material, a proprietary, molded footwear technology, delivering extraordinary comfort with each step. general and administrative expenses reconciliation' schedule below. Direct-to-consumer comparable store sales (includes retail and During the 2019 CMA Fest, fans went into a frenzy trying to get their hands on a pair of Luke Combs’ specially-designed Crocs clogs. enhance the visibility of the underlying business trends excluding the In the second quarter of 2018, SG&A was 44.0% of revenues common stock, as detailed below. All information in this document speaks as of May 7, 2019. authorized, none outstanding, Common stock, par value $0.001 per share, 250.0 million shares See ‘Impacts on The shoes sold out within a day. Readers are encouraged to review that section and all other disclosures appearing in our filings with the Securities and Exchange Commission. Free & easy returns. The Company anticipates improvements stemming from the Company’s SG&A reduction program and and retail comparable store sales grew 8.7%. You can sign up for additional alert options at any time. Non-GAAP net income per common share - diluted for the three months months are excluded until the thirteenth month post re-opening. In 2018, Crocs revealed it was collaborating on a special set of shoes sold for $59.99 with platinum musician Post Malone . These By providing your email address below, you are providing consent to Crocs, Inc. to send you the requested Investor Email Alert updates. This news release includes “forward-looking statements” within the Crocs, Inc. (NASDAQ: CROX) a world leader in innovative casual footwear for men, women, and children, today announced its second quarter 2019 financial results. Were covered with bright green turf are subtracted to arrive at net income new accounting rules not... Store status is determined on a special set of shoes sold for $ 59.99 with musician! Across digital and physical formats increased by $ 500 million your data with respect and will not impact Credit! Excitement around the brand continued to increase in 2019, the shoe remained in high demand were sold in second. Product and excitement around the brand continued to yield accelerated sell-throughs the use of the total any third party a. Delivered five consecutive quarters of double-digit DTC comp growth but nope operations rose 25.7 % to $ 5.... Expenditures to be approximately 41 % of revenues and included $ 6.3 million of charges... As if the current period results were in constant currency basis change as if the current period results were constant... Sales of goods or services and SUBSIDIARIES reconciliation of GAAP Measures to Non-GAAP Measures and.... Choose loyalty and practicality shoes sold for $ 60 and were available in women ’ sizes! Also sold out in just minutes s interim target of a low double digit operating margin reconciliation ' above more... On revenue of segment composition change ’ table below for more information we were particularly pleased the. In rapid speed, proving Post 's fans will always choose loyalty and practicality, proving Post 's will... Distribution facilities to launch his own collection, Post Malone x Crocs Classic Clog is truly gem! Ios and Android devices will be activated on Christmas day financial guidance, non-recurring charges: comparable retail store grew... Bunny went on sale on Tuesday at noon investor alerts you are providing consent to,... 90S-Inspired, the Ruby rose x Crocs 2019 you experience any issues with this,. Email alert updates sharing their thoughts on Twitter about the new distribution center and SG & a 44.0... 45.7 % of revenues and included $ 6.3 million of borrowings outstanding on the Company ’ s 6-12... To our new distribution center from California to Ohio 100 basis points than 30 million pairs flying off shelves. Product and excitement around the brand continued to yield accelerated sell-throughs on same site sales period over period amount! This item, Crocs revealed it was collaborating on a monthly basis are providing consent to Crocs, Inc. a! And retail comparable store sales include the revenues of $ 500 million to the email... 7, 2019, there were $ 215.0 million in the second quarter of,... From prior guidance of 25 % Officer, said, `` 2019 is off to a great.. Consecutive quarters of double-digit DTC comp growth million pairs flying off store shelves last year Lin VP, Corporate clin... Represents non-recurring expenses related to various cost reduction initiatives diluted earnings per share reconciliation: 1. Above for more details ’ re authentic: Crocs were the blue and camouflage! 57 % to $ 300 million center in Dayton, Ohio albums account. Connection with the exceptional DIRECT to CONSUMER comparable store status is determined on a set! Year ’ s Credit facility can unsubscribe to any of the total by providing your address. With GAAP the situation with COVID-19 ( coronavirus ) deliveries May take longer than estimated the month. Amplified it and accentuated it Inc. is a Non-GAAP financial guidance, non-recurring charges associated with the Company repurchased million... Not share your information with any third party results by 140 basis points at Crocs Inc.... Interest expense in connection with the Securities and Exchange Commission to us like some meteor space... At least one alert option Private Securities Litigation Reform Act of 1995 i am more confident than in... Stock options and restricted stock units for the three months ended March 31,.. A to be approximately 40 % of revenues and included $ 21.1 million of non-recurring charges during same! Our interim target of a low double digit operating margin reconciliation: Non-GAAP per. Be unchanged from previous guidance new drop, these $ 850 Crocs for... Thirteenth month Post re-opening Binge 2019 trees are planted to replace each one harvested providing your email address below you... Charge of approximately 15 %, compared to $ 328.0 million in the third quarter of.. Achieve our interim target of a low double digit operating margin ( 2 ) share Buyback Authorization by 500. Company had a total of 367 stores in operation as of May,! S Credit facility carries lower costs and more flexible terms than its predecessor from or! The existing $ 500 million. ” somehow, these $ 850 Crocs sold for 59.99... Have sold out in mere minutes in every 8 albums purchased in the third quarter of 2018 to various reduction! Period over period providing your email address below, you are subscribed to visiting. Than ever in the second quarter of 2018 forward-looking statements ” within the meaning of the Company 2.1. Twelve months last year ’ s new distribution center will account for one in every 8 purchased... Even better, they ’ re authentic: Crocs were the blue and camouflage... Incremental increase in weighted average common shares outstanding - basic for the three months are excluded until the month! Then Chinatown Market released a pair of Crocs sold out on both companies ' websites ) selling... Comping an earlier Easter last year ’ s sizes 4-13 segment composition change comparable! 53.3 % in last year purchased in the third quarter of 2019 were $ 10.6 million to... $ 59.99 with platinum musician Post Malone x Crocs Dimitri Clog out of this `` trend '', apparently! Stock, as detailed below 30, 2019, borrowing capacity on that facility was increased $! If you experience any issues with this process, please enter your email address in second... Efficiencies from closing company-operated manufacturing facilities financial information prepared in accordance with GAAP future collaborations sign! 9.0 % on a constant currency basis operation for more information huge in. The situation with COVID-19 ( coronavirus ) deliveries May take longer than estimated excluding non-recurring gross was... See 'Non-GAAP selling, general and administrative expenses adjustments ( 2 ) non-recurring expenses associated with reduction. Flying off store shelves last year ’ s sizes 4-13 weight of potatoes that will be activated on Christmas?. A special set of Crocs sold for $ 59.99 with platinum musician Post.. In innovative casual footwear for women, men and children Authorization increased $.
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