Crocs, Inc. Reports First Quarter Fiscal 2024 Financial Results

First Quarter Revenue Increased 6% Over Last Year To A Record $939 Million
First Quarter Diluted EPS Up 5% to $2.50 and Adjusted Diluted EPS Up 16% to $3.02
Fiscal Year 2024 Adjusted Diluted Earnings Per Share Guidance Raised, Led By Strength of Crocs Brand

First Quarter 2024 Brand Summary

Crocs Brand: Revenues increased 14.6% to $744 million, or 15.6% on a constant currency basis.

Channel
* DTC revenues increased 18.3% to $282 million, or 19.0% on a constant currency basis.

Wholesale revenues increased 12.5% to $462 million, or 13.8% on a constant currency basis.
Geography
- North America revenues increased 9.0% to $383 million, or 9.0% on a constant currency basis.
- International revenues increased 21.3% to $361 million, or 23.6% on a constant currency basis.

HEYDUDE Brand: Revenues decreased 17.2% to $195 million.

Channel
* DTC revenues decreased 11.0% to $60 million.

With respect to the second quarter of 2024, we expect:

Revenues to be up 1% to 3% compared to second quarter 2023, at currency rates as of the end of the last reported period.
Crocs Brand to grow 7% to 9% compared to second quarter 2023.
HEYDUDE Brand to contract (19%) to (17%) compared to second quarter 2023.

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