CROX Posts Loss In Q2

(RTTNews) - Crocs, Inc. (CROX) posted a second quarter net loss of $492.28 million compared to net income of $228.91 million, prior year. Loss per share was $8.82 compared to profit per share of $3.77. The company noted that loss is driven by asset impairments. Adjusted earnings per share was $4.23, up 5.5% from $4.01, a year ago. Analysts on average expected the company to report profit per share of $4.02, for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenues were $1.15 billion, an increase of 3.4%, or 2.7% on a constant currency basis. Direct-to-consumer revenues grew 4.0%, or 3.4% on a constant currency basis. Wholesale revenues increased 2.8%, or 2.0% on a constant currency basis.

For the third quarter, the company expects: revenues to be down approximately 11% to 9% compared to the third quarter of 2024.

Shares of CROX are down 16% in pre-market trade on Thursday.

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