A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
Fourth quarter web sales at the footwear manufacturer rose 44%.
Internet sales are stepping forward at footwear manufacturer and retailer Crocs Inc.
For the year ended Dec. 31, Crocs reported:
● Internet sales rose 24% to $75.0 million from $60.5 million a year earlier.
● Retail store sales rose 29% year over year to $232.9 million from $180.9 million. Combined retail store and Internet sales rose 28% to $307.9 million from about $241.4 million.
● Wholesale sales increased 19% year over year to $481.8 million from $404.9 million.
● Total sales, including Internet, retail stores and wholesale, increased 22.2% year over year to $789.7 million from $645.9 million.
Internet Retailer calculates that full year 2010 Internet sales were 9.5% of total sales, compared with 9.4% a year earlier.
Crocs president and CEO John McCarvel attributed part of the improved financial performance to the company’s investment in multichannel retailing.
“We’ve made important investments in our operating platform to support our multichannel growth strategy and drive efficiency,” McCarvel says. He adds that Crocs, No. 151 in the Internet Retailer Top 500 Guide, also ran more effective merchandising and marketing programs last year, helping it to post four profitable quarters for the first time since 2007.
For the fourth quarter, Crocs reported:
● Internet sales of $21.9 million, up 44% from $15.2 million a year earlier.
● Retail store sales increased 36% year over year to $59.6 million from $43.8 million. Combined retail store and Internet sales were up 38.1% to $81.5 million from $59.0 million.
● Wholesale sales rose 27% year over year to $97.7 million from $76.9 million.
● Total sales, including Internet, retail stores and wholesale, increased 32% year over year to $179.2 million from $135.9 million.
Internet Retailer calculates that Crocs’ Q4 Internet sales accounted for 12.2% of total sales, compared with 11.2% a year earlier.