CROCS, INC., 8-K filed on 2/16/2024
Current report filing
v3.24.0.1
Document and Entity Information Document
Feb. 15, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 15, 2024
Entity Registrant Name CROCS, INC.
Entity Central Index Key 0001334036
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 0-51754
Entity Tax Identification Number 20-2164234
Entity Address, Address Line One 500 Eldorado Blvd., Building 5
Entity Address, City or Town Broomfield,
Entity Address, State or Province CO
Entity Address, Postal Zip Code 80021
City Area Code 303
Local Phone Number 848-7000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.001 per share
Trading Symbol CROX
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
v3.24.0.1
REVENUES
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
REVENUES
Exhibit 99.1

Three Months Ended March 31,
20232022
(in thousands)
Crocs Brand:
North America:
Wholesale$172,055 $163,455 
Direct-to-consumer179,254 156,002 
Total North America (1)
351,309 319,457 
International:
Wholesale238,508 180,803 
Direct-to-consumer58,961 44,965 
Total International297,469 225,768 
Total Crocs Brand$648,778 $545,225 
Crocs Brand:
Total Wholesale$410,563 $344,258 
Total Direct-to-consumer238,215 200,967 
Total Crocs Brand648,778 545,225 
HEYDUDE Brand:
Total Wholesale167,863 86,919 
Total Direct-to-consumer67,525 28,004 
Total HEYDUDE Brand (2)
235,388 114,923 
Total consolidated revenues$884,166 $660,148 
(1) North America includes the United States and Canada.
(2) The vast majority of HEYDUDE Brand revenues are derived from North America.
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(in thousands)
Crocs Brand:
North America:
Wholesale$181,085 $171,957 $353,140 $335,412 
Direct-to-consumer293,473 250,993 472,727 406,995 
Total North America (1)
474,558 422,950 825,867 742,407 
International:
Wholesale226,257 220,554 464,765 401,356 
Direct-to-consumer132,135 88,712 191,096 133,678 
Total International358,392 309,266 655,861 535,034 
Total Crocs Brand$832,950 $732,216 $1,481,728 $1,277,441 
Crocs Brand:
Total Wholesale$407,342 $392,511 $817,905 $736,768 
Total Direct-to-consumer425,608 339,705 663,823 540,673 
Total Crocs Brand832,950 732,216 1,481,728 1,277,441 
HEYDUDE Brand:
Total Wholesale148,825 162,499 316,688 249,418 
Total Direct-to-consumer90,592 69,866 158,117 97,870 
Total HEYDUDE Brand (2)
239,417 232,365 474,805 347,288 
Total consolidated revenues$1,072,367 $964,581 $1,956,533 $1,624,729 
(1) North America includes the United States and Canada.
(2) The vast majority of HEYDUDE Brand revenues are derived from North America.
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(in thousands)
Crocs Brand:
North America:
Wholesale$164,920 $166,626 $518,059 $502,038 
Direct-to-consumer315,824 278,702 788,550 685,697 
Total North America (1)
480,744 445,328 1,306,609 1,187,735 
International:
Wholesale204,257 186,678 669,022 588,035 
Direct-to-consumer113,768 83,701 304,866 217,378 
Total International318,025 270,379 973,888 805,413 
Total Crocs Brand$798,769 $715,707 $2,280,497 $1,993,148 
Crocs Brand:
Total Wholesale$369,177 $353,304 $1,187,081 $1,090,073 
Total Direct-to-consumer429,592 362,403 1,093,416 903,075 
Total Crocs Brand798,769 715,707 2,280,497 1,993,148 
HEYDUDE Brand:
Total Wholesale146,501 181,768 463,189 431,186 
Total Direct-to-consumer100,447 87,619 258,564 185,489 
Total HEYDUDE Brand (2)
246,948 269,387 721,753 616,675 
Total consolidated revenues$1,045,717 $985,094 $3,002,250 $2,609,823 
(1) North America includes the United States and Canada.
(2) The vast majority of HEYDUDE Brand revenues are derived from North America.
v3.24.0.1
REVENUES (Tables)
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Revenues by Reportable Operating Segment and by Channel
Exhibit 99.1

Three Months Ended March 31,
20232022
(in thousands)
Crocs Brand:
North America:
Wholesale$172,055 $163,455 
Direct-to-consumer179,254 156,002 
Total North America (1)
351,309 319,457 
International:
Wholesale238,508 180,803 
Direct-to-consumer58,961 44,965 
Total International297,469 225,768 
Total Crocs Brand$648,778 $545,225 
Crocs Brand:
Total Wholesale$410,563 $344,258 
Total Direct-to-consumer238,215 200,967 
Total Crocs Brand648,778 545,225 
HEYDUDE Brand:
Total Wholesale167,863 86,919 
Total Direct-to-consumer67,525 28,004 
Total HEYDUDE Brand (2)
235,388 114,923 
Total consolidated revenues$884,166 $660,148 
(1) North America includes the United States and Canada.
(2) The vast majority of HEYDUDE Brand revenues are derived from North America.
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
(in thousands)
Crocs Brand:
North America:
Wholesale$181,085 $171,957 $353,140 $335,412 
Direct-to-consumer293,473 250,993 472,727 406,995 
Total North America (1)
474,558 422,950 825,867 742,407 
International:
Wholesale226,257 220,554 464,765 401,356 
Direct-to-consumer132,135 88,712 191,096 133,678 
Total International358,392 309,266 655,861 535,034 
Total Crocs Brand$832,950 $732,216 $1,481,728 $1,277,441 
Crocs Brand:
Total Wholesale$407,342 $392,511 $817,905 $736,768 
Total Direct-to-consumer425,608 339,705 663,823 540,673 
Total Crocs Brand832,950 732,216 1,481,728 1,277,441 
HEYDUDE Brand:
Total Wholesale148,825 162,499 316,688 249,418 
Total Direct-to-consumer90,592 69,866 158,117 97,870 
Total HEYDUDE Brand (2)
239,417 232,365 474,805 347,288 
Total consolidated revenues$1,072,367 $964,581 $1,956,533 $1,624,729 
(1) North America includes the United States and Canada.
(2) The vast majority of HEYDUDE Brand revenues are derived from North America.
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(in thousands)
Crocs Brand:
North America:
Wholesale$164,920 $166,626 $518,059 $502,038 
Direct-to-consumer315,824 278,702 788,550 685,697 
Total North America (1)
480,744 445,328 1,306,609 1,187,735 
International:
Wholesale204,257 186,678 669,022 588,035 
Direct-to-consumer113,768 83,701 304,866 217,378 
Total International318,025 270,379 973,888 805,413 
Total Crocs Brand$798,769 $715,707 $2,280,497 $1,993,148 
Crocs Brand:
Total Wholesale$369,177 $353,304 $1,187,081 $1,090,073 
Total Direct-to-consumer429,592 362,403 1,093,416 903,075 
Total Crocs Brand798,769 715,707 2,280,497 1,993,148 
HEYDUDE Brand:
Total Wholesale146,501 181,768 463,189 431,186 
Total Direct-to-consumer100,447 87,619 258,564 185,489 
Total HEYDUDE Brand (2)
246,948 269,387 721,753 616,675 
Total consolidated revenues$1,045,717 $985,094 $3,002,250 $2,609,823 
(1) North America includes the United States and Canada.
(2) The vast majority of HEYDUDE Brand revenues are derived from North America.
v3.24.0.1
REVENUES (Revenue by Reportable Operating Segment and by Channel) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Disaggregation of Revenue [Line Items]                    
Revenues $ 1,045,717 $ 1,072,367 $ 884,166 $ 985,094 $ 964,581 $ 660,148 $ 1,956,533 $ 1,624,729 $ 3,002,250 $ 2,609,823
Crocs Brand                    
Disaggregation of Revenue [Line Items]                    
Revenues 798,769 832,950 648,778 715,707 732,216 545,225 1,481,728 1,277,441 2,280,497 1,993,148
Crocs Brand | North America                    
Disaggregation of Revenue [Line Items]                    
Revenues 480,744 474,558 351,309 445,328 422,950 319,457 825,867 742,407 1,306,609 1,187,735
Crocs Brand | International                    
Disaggregation of Revenue [Line Items]                    
Revenues 318,025 358,392 297,469 270,379 309,266 225,768 655,861 535,034 973,888 805,413
HEYDUDE Brand                    
Disaggregation of Revenue [Line Items]                    
Revenues 246,948 239,417 235,388 269,387 232,365 114,923 474,805 347,288 721,753 616,675
Wholesale | Crocs Brand                    
Disaggregation of Revenue [Line Items]                    
Revenues 369,177 407,342 410,563 353,304 392,511 344,258 817,905 736,768 1,187,081 1,090,073
Wholesale | Crocs Brand | North America                    
Disaggregation of Revenue [Line Items]                    
Revenues 164,920 181,085 172,055 166,626 171,957 163,455 353,140 335,412 518,059 502,038
Wholesale | Crocs Brand | International                    
Disaggregation of Revenue [Line Items]                    
Revenues 204,257 226,257 238,508 186,678 220,554 180,803 464,765 401,356 669,022 588,035
Wholesale | HEYDUDE Brand                    
Disaggregation of Revenue [Line Items]                    
Revenues 146,501 148,825 167,863 181,768 162,499 86,919 316,688 249,418 463,189 431,186
Direct-to-consumer | Crocs Brand                    
Disaggregation of Revenue [Line Items]                    
Revenues 429,592 425,608 238,215 362,403 339,705 200,967 663,823 540,673 1,093,416 903,075
Direct-to-consumer | Crocs Brand | North America                    
Disaggregation of Revenue [Line Items]                    
Revenues 315,824 293,473 179,254 278,702 250,993 156,002 472,727 406,995 788,550 685,697
Direct-to-consumer | Crocs Brand | International                    
Disaggregation of Revenue [Line Items]                    
Revenues 113,768 132,135 58,961 83,701 88,712 44,965 191,096 133,678 304,866 217,378
Direct-to-consumer | HEYDUDE Brand                    
Disaggregation of Revenue [Line Items]                    
Revenues $ 100,447 $ 90,592 $ 67,525 $ 87,619 $ 69,866 $ 28,004 $ 158,117 $ 97,870 $ 258,564 $ 185,489