The US shoe supplier Crocs Inc. suffered a slight decline in sales in the 2025 financial year. High one-time charges also pushed the company into the red.
According to a statement published on Thursday, group sales last year amounted to 4.04 billion US dollars (3.40 billion euros). This corresponded to a decline of 1.5 percent compared to 2024. Adjusted for exchange rate changes, revenue fell by 1.7 percent.
The main Crocs brand increased its sales by 1.5 percent (+1.3 percent at constant currency) to $3.3 billion. An increase of 11.9 percent in international business more than offset losses of 6.8 percent in North America.
In contrast, the annual sales of the Heydude label fell again significantly. It fell by 13.3 percent (-13.5 percent at constant currency) to $715 million.
The Group’s earnings were additionally burdened by impairments of $737 million at Heydude. The operating profit, which had reached $1.02 billion in the previous year, slipped to $149.5 million. The bottom line was a net loss of 81.2 million US dollars (68.3 million euros), after the company was able to achieve a surplus of 950.1 million US dollars in 2024. Adjusted for special items, net profit fell by 13 percent to $682.9 million.
CEO Andrew Rees stressed that the company enters 2026 with “great confidence in its diversified growth engines” after the recent Christmas trading season was better than expected. In addition, cost savings totaling $100 million have already been implemented to increase efficiency.
For the first quarter of 2026, Crocs expects a sales decline of between 3.5 and 5.5 percent based on February 6 exchange rates. A decline of a low single-digit percentage is expected for the Crocs brand, and a decline of around 15 to 18 percent for Heydude. Diluted earnings per share, adjusted for special items, are expected to be between $2.67 and $2.77 in the first quarter.
For the entire financial year, the company forecasts a development in the range of -1 percent to slight growth at constant exchange rates. Crocs brand revenues are expected to remain roughly stable or grow by up to two percent. Heydude’s sales are expected to fall by around seven to nine percent compared to last year. Guidance for adjusted diluted earnings per share, which was $12.51 last year, is between $12.88 and $13.35. Capital expenditure is expected to be between $70 million and $80 million.
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