— Crocs Inc. (NASDAQ: CROX) reported its third-quarter 2019 earnings of $0.51 per share and adjusted earnings of $0.57 per share. This is compared to the analysts’ expectations of $0.40 per share.
— Revenues grew by 20% to $312.8 million versus $302.06 million expected. Currencies negatively impacted revenue by about $3 million while store closures reduced the top line by about $4 million.
— Wholesale revenues increased by 25.4%, e-commerce revenues grew by 28.2%, and retail comparable store sales advanced by 12.5%.
— Looking ahead into the fourth quarter, the company predicts revenue in the range of $245 million to $255 million compared to $216 million in the fourth quarter of 2018.
— For the full year 2019, the company lifted its revenue growth outlook to the range of 11% to 12% over 2018 revenue of $1.09 billion, compared to the prior estimate of 9% to 11%. The top line will be negatively impacted by currency changes and store closures.
— Capital expenditures are now anticipated to be about $60 million for the full year, lower than the previous forecast of about $65 million.
— With respect to 2020 revenues, the company expects 12% to 14% growth over 2019 revenues. This estimate assumes that currency will negatively impact results by about $10 million.