Crocs (CROX) Tops Q1 EPS by 5c, Sales Beat; Q2 Guide Below View

Crocs (NASDAQ: CROX) reported Q1 EPS of $0.08, $0.05 better than the analyst estimate of $0.03. Revenue for the quarter came in at $267.6 million versus the consensus estimate of $258.1 million.

GUIDANCE:

Crocs sees Q2 2017 revenue of $305-315 million, versus the consensus of $322.63 million.

Gregg Ribatt, Chief Executive Officer, said, “During the first quarter of 2017, we continued to execute against our strategic plan to strengthen the Company and brand. Customers responded favorably to our Spring/Summer 2017 product, enabling us to achieve revenues that exceeded our guidance, while simultaneously driving gross margin improvements. We are moving rapidly to implement our SG&A reduction plan, and in connection with that initiative, we closed a net 16 Company operated stores during the first quarter of 2017 and signed agreements to transfer 24 Company operated stores to distributors during the second quarter of 2017."

For earnings history and earnings-related data on Crocs (CROX) click here.

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