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Web growth in the Americas and Asia offsets weak European sales for Crocs
Online sales were up 11% and 34% in North America and Asia, respectively.
Associate Editor, Research
Topics: 2012 financials, 2012 q3 earnings, Americas, Asia, business finance, Crocs, Crocs Inc., Europe, John McCarvel, North America, overall e-commerce sales, Q3, q3 2012, Q3 web sales, quarter e-commerce sales, third quarter, third quarter e-commerce sales, United States, web sales
Third quarter e-commerce sales grew in the U.S. and Asia for Crocs Inc., but fell in Europe.
For the third quarter ended September 30, Crocs, No. 183 in the 2012 Internet Retailer Top 500, reported:
- Overall e-commerce sales increased year over year 6.0% to about $27.15 million from $25.62 million.
- Web sales for North America grew 11.3% to about $16.7 million from about $15.0 million in the third quarter of 2011.
- Web sales for Asia grew about 32.4% to about $4.9 million from $3.7 million.
- Web sales for Europe decreased about 21.4% to about $5.5 million from $7.0 million.
- Total sales increased year over year 7.5% to $295.6 million from $274.9 million.
- Same-store sales grew year over year 1.0%.
- Net income increased 49.3% to $45.1 million from $30.2 million.
The web accounted for 9.2% of total sales compared with 9.3% in the third quarter of 2011.
“Our Americas and Asia performance helped to more than offset weakness in the European market, where challenging macroeconomic conditions and foreign currency exchange rate fluctuations continue to pressure our results,” says CEO John McCarvel.
For the first nine months:
- Overall e-commerce sales increased year over year 10.3% to about $77.6 million from $70.4 million.
- Web sales for North America grew 16.2% to $46.7 million from $40.2 million in the first three quarters of 2011.
- Web sales for Asia grew about 41.4% to almost $12.3 million from $8.7 million.
- Web sales for Europe decreased 13.4% to about $18.6 million from $21.5 million.
- Total sales increased year over year 12.7% to $898.3 million from $797.2 million.
- Net income increased 26% to $135.0 million from $107.2 million.
The web accounted for 8.6% of total sales compared with 8.8% in in the first three quarters of 2011.