Crocs sees FY18 revenue up LSD over 2017 revenues of $1.024B, consensus $1.05B
With respect to 2018, the company now expects: "Revenues to increase low single digits over 2017 revenues of $1,023.5 million, as we expect double digit e-commerce growth and moderate wholesale growth to more than offset lower retail revenues due to operating fewer stores and business model changes. Gross margin to increase approximately 70 to 100 basis points over 2017 gross margin of 50.5%. SG&A to be slightly higher than our prior guidance of $485 million, compared to $499.9 million last year. This includes approximately $18 million of non-recurring charges, compared to our prior guidance of approximately $15 million, and $17 million of non-recurring charges in 2017. These non-recurring charges consist of approximately $14 million relating to the closure of our manufacturing facilities, approximately $8 million of which will be non-cash, and approximately $4 million associated with our SG&A reduction plan."