Crocs’ Q1 sales skyrocketed with double-digit growth across all channels and regions; improve prospects

shoe company crocodile Inc. announced on Thursday, first-quarter revenue totaled $884.2 million, up 33.9% on the back of double-digit sales growth across all channels and regions.

The Broomfield, Ohio-based company said sales of its Crocs brand of the same name jumped 19 percent to 648.8 million USD. Wholesale sales increased 19.3%, while DTC’s comparable sales increased 19.2%.

By region, North America Revenue increased by 10% $351.3 million up 10.0%; Asia Pacific revenue increased 46.1% up 140 million USD; And Europe, Middle East, AfricaAnd Latin America revenue soar 157.5 million USD up 21.2%.

In addition, the total HeyDude brand revenue in the first quarter 235.4 million USD.

Diluted earnings per share increased by 100.8% to $2.39, while Adjusted dilutive earnings per share rose 27.3% to $2.61.

“Our exceptional first quarter results are testament to the strength of our brands. The Crocs brand grew 19.0% as we saw a strong consumer response to our new clogs and sandals. HeyDude brand is gaining momentum and has outstanding DTC growth.” Andrew Rees, chief executive officer said.

“We are raising our 2023 revenue growth outlook to 11% to 14%, resulting in approximately $4.0 billion in revenue, demonstrating our confidence in our ability to continue to capture market share, deliver best returns in the industry and generate cash flow returns.”

Looking ahead, Crocs said it expects full-year revenue growth for fiscal 2023 to be between 11% and 14%, compared to 2022, resulting in revenue of approx. 3.945 billion USD ARRIVE $4,045 billion at the current currency rate.