Crocs Results Presentation Deck
Q1 Financial Highlights
HEYDUDE Brand Q1 Highlights
• Revenues of $235M, +106% CC vs PY / +15% on a PF basis(1)
HEYDUDE ranked #1 in casual footwear for men and women in L.E.K.
report on footwear and apparel brand heat
• HEYDUDE ranked #8 preferred footwear brand for teens, up from Spring
'22, in Piper Sandler's Spring 2023 Taking Stock with Teens Survey
●
Diversifying silhouettes with Karina and Sirocco sneakers as top selling
styles on heydude.com
• International test and learn has begun with first e-commerce and
Amazon orders shipped from the Netherlands distribution center in early
April
• Two significant initiatives - ERP implementation and a new distribution
center in Las Vegas - both expected to be complete towards year end
Revenue
Adj. Gross Margin(2)
Operating Margin(3)
CROCS inc
1.
2.
3.
Q1'2023
$235M
49.6%
32.6%
B/(W) vs. PY
+105.7% (1)
(30) bp
1,890 bp
prants &
Revenue growth on a constant currency basis, which is a Non-GAAP Financial Measure. See further details in Appendix. Pro forma ("PF") includes HEYDUDE revenues for the period
prior to acquisition close (assuming the acquisition had closed on January 1, 2022.)
See reconciliation to GAAP equivalents in Appendix.
Prior year operating margin included $28 million costs associated with the write-up of HEYDUDE inventory costs to fair value upon the close of the acquisition on February 17, 2022.
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