- Crocs (NASDAQ:CROX) races higher after posting a mixed Q2 report, but lifting guidance ahead of expectations.
- Sales were up 9.4% during the quarter to $359M, kicked higher by a 14.2% increase in the direct-to-consumer business and 18% gain for the e-commerce business.
- Adjusted gross margin fell 170 basis points, primarily due to reduced purchasing power associated with the strength of the U.S. dollar. SG&A expenses fell to 39.4% of sales from 44.0% a year ago.
- Looking ahead, Crocs anticipates Q3 revenue of $295M to $305M vs. $278M consensus and full-year revenue of +9% to +11% vs. +5% to +7% prior.
- Shares of Crocs are up 4.99% in premarket action.
- Previously: Crocs EPS beats by $0.14, misses on revenue (Aug. 1)