Crocs’ Collaboration Strategy Pays Off As Revenues Rise 15%
Oct 28, 2020
It’s been a big year for Crocs, and the footwear label’s Quarter Three financial report shows it’s been a profitable year as well. Over the course of the quarter, Crocs revenue was up to $361.7 million USD, representing a 15.7% increase. The growth comes from strong performances in all three channels, including an 80.7% increase in operating income and expanded operating margins. Additionally, Crocs reported that e-commerce revenues were up by 36.3%, while wholesale had grown by 12.4% and retail was up by 8.9%. Speaking about the figures, Crocs CEO Andrew Rees said, “We achieved record third quarter revenue and EPS despite the challenges presented by the global Covid-19 pandemic.” Read more at Hypebeast.
