Crocs also reported on its business at the ICR XChange conference, noting that its balance sheet includes no debt and that inventory was down by 60 percent at the end of the third quarter and by even more than that at the end of the fourth. Selling, general and administrative expenses are down, while orders for spring/summer are up by 60 percent. Crocs expects a profitable 2010, with comparable store sales up and improvements in sell-throughs at wholesale. Sales outside the U.S. make up half of the total, and the brand is present in 126 countries. As of the end of its third quarter, wholesale made up 60 percent of total sales, with 30 percent coming from retail and 10 percent from online purchases. It has introduced a cartoon character, Croslite, for a new marketing campaign.