Crocs raises Q4 revenue guidance $211M-$214M from $195M-$205M
Revenue consensus $202.65M. Crocs updated its guidance for the fourth quarter and full year ended December 31, 2018 in anticipation of its presentation at the 21st Annual ICR Conference. CEO Andrew Rees said, "We had one of our best fourth quarters in years and as a result, have increased our revenue guidance to $211M to $214M, well above the top end of our previous guidance of $195M to $205M. These results clearly demonstrate that consumer demand for clogs and sandals is year-round. Classic and lined clogs were particular standouts, and exceptional results in North America contributed to our outperformance. We are thrilled to finish the year on such a high note and are looking forward to another successful year in 2019." The company now anticipates Q4 revenues of $211M to $214M; prior guidance was $195M to $205M. Revenues were $199.1M in the fourth quarter of 2017. The Company continues to expect gross margin to increase by 80 to 100 basis points over 45.4% in the fourth quarter of 2017. The Company now expects SG&A to be approximately 54% of revenues compared to 60.6% of revenues in the fourth quarter of 2017.