2/22/13

Web sales increase for Crocs in 2012, but dip in the fourth quarter

Overall sales and net income grow for the year.

Kevin Woodward , Senior Editor

2012 was a positive sales year for footwear manufacturer Crocs Inc.

For the year ended Dec. 31, Crocs, No. 183 in the Internet Retailer Top 500 Guide, reported:

Online sales accounted for 9.2% of overall sales in 2012 compared with 9.6% in 2011.

Part of the explanation for the dip in Internet sales as a percent of total sales is the increase in wholesale sales, says John McCarvel, CEO and president. Crocs sells its products to retailers that sell online like Amazon.com Inc., No. 1 in the Top 500, and others, which picked up this year, McCarvel told analysts during the company’s year-end earnings call. Sales through those channels count as wholesale revenue, he says. “They sold a lot of product at a more heavily discounted price,” he said.

For the fourth quarter, Crocs reported:

Online sales accounted for 11.1% of overall fourth quarter sales, compared with 12.5% in the same quarter a year ago.

Topics:

Amazon.com Inc., annual results, Asia, Crocs, Crocs Inc., e-commerce, earnings, Europe, financials, footwear, John McCarvel, North America, online sales, quarterly results, shoes, Top 500, wholesale

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