Crocs reaches ‘inflexion point’ as it aims for b - sportstextiles: Lea SportsTextiles

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Crocs reaches ‘inflexion point’ as it aims for better 2016

02/03/2016
Footwear brand Crocs has reported a 2% revenue drop for 2015 to $1.1 billion, which it says was in line with expectations.

CEO Gregg Ribatt said the company was making “meaningful progress” with positioning the company for success despite near-term challenges.

He said: “Our overall results reflect the impact of higher clearance sales as we made the decision in the quarter to increase our promotional cadence, given the overall retail environment. 

“While we still face foreign exchange headwinds from the stronger US dollar and macroeconomic challenges, we are making progress in our transformation efforts. 

“I believe we are reaching an inflection point and we will see the benefits of our actions increasingly as 2016 progresses.”

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Crocs patent rejected in long-running Dawgs battle 24/02/2016
Rossignol takes cue from Moncler with foray into lifestyle sector 03/12/2015
Nike outstrips rivals as top footwear choice for US children 17/06/2015
Crocs hit with $19m loss after China errors 27/02/2015
Crocs names new CEO 28/01/2015
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Crocs to close up to 100 stores as part of new plan 22/07/2014
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