Crocs Q3 revenue to fall below hopes

REPORT_ Crocs expects third quarter 2013 gross margins

to be generally in-line with prior year performance. Revenue for the third quarter of 2013 is coming in below the company’s prior forecasted outlook, because of lower than expected revenue in the Americas region. But Asia Pacific and Europe retail sales performance in the quarter have been very satisfactory.

For the third quarter ending September 30, 2013, the company now expects revenue between 285 million dollars and 295 million dollars and GAAP diluted earnings per share between 0.15 dollar and 0.18 dollars. This compares with the prior financial outlook for the third quarter of 2013 provided on July 24, 2013, of revenue between 300 million dollars and 310 million dollars and GAAP diluted earnings per share between 0.20 dollar and 0.23 dollars.

Crocs is based in Colorado. It offers casual footwear for men, women and children. Crocs shoes feature Croslite, a technology that gives each pair of shoes soft, comfortable, lightweight, non-marking and odor-resistant qualities. Said John McCarvel, President and Chief Executive Officer, “We are pleased with the early indications of strong demand from our wholesale customers for the Spring/Summer 2014 product, as pre-books for these products are presently running ten percent ahead of last year. We believe our brand is well positioned to take advantage of our customers’ demand for colorful and fun footwear in 2014.”