The city is broadening the reach of its 9% “amusement tax” to include streaming entertainment services like Netflix and Spotify.
The footwear manufacturer and retailer’s total sales topped $1 billion.
2011 was a strong year for both sales and income at footwear manufacturer and retailer Crocs Inc.
For the year ended Dec. 31, Crocs, No. 198 in the Internet Retailer Top 500 Guide, reported:
- Online sales increased 27.9% to $95.9 million from $75.0 million. Web growth was mainly driven by increased Internet sales in the Americas and Europe operating segments, the company says.
- Retail sales increased by about 32% to $306.7 million from $232.9 million.
- Wholesale sales increased by about 24% to $598.4 million from $481.8 million.
- Total sales increased by about 27% to $1.0 billion, from $789.7 million.
- Net income of $112.8 million, a 66.6% increase from net income of $67.7 million in 2010.
- The Internet accounted for 9.6% of total sales, compared with 9.5% in 2010.
“The past 12 months were a period of terrific growth and important progress for our company,” says John McCarvel, CEO. “The success of existing and new product introductions drove improvements in our average selling price in addition to strong organic growth from channel and geographic expansion.”
For the fourth quarter:
- Internet sales increased 17% to $25.5 million from about $21.8 million from the prior year quarter.
- Retail sales increased 24% to $74.1 million from about $59.8 million.
- Wholesale sales increased 6% to $104.1 million from about $98.2 million.
- Total sales rose about 14% to $203.7 million from $179.2 million.
- Net income of $5.6 million, up by 19.4% from net income of $4.7 million in the fourth quarter 2010.
The web accounted for 12.5% of sales in Q4, compared with 12.2% in the fourth quarter of 2010.
“Our Internet presence enables us to have increased access to our customers and provides us with an opportunity to educate them about our products and brand,” the company says. “We continue to expand our web-based marketing efforts to increase consumer awareness of our full product range.”