Crocs told investors at a recent conference that it performed better than expected in the fourth quarter of 2017, thanks to a strong holiday season in the U.S. Sales reached a level of between $180 million and $190 million, with a gross margin of around 45 percent. However, the company is budgeting flat sales for 2018, as some $50 million in revenues will be lost through the closure of about 160 mono-brand shops, bringing the total network down to less than 400 units. The gross margin is expected to grow to 50 percent. Crocs is still aiming to reduce sales to discounters while cutting SKUs by half to refocus on core, high-margin clog styles, which represent more than half of its sales, and on sandals.