All Crocs articles
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Article
Crocs names a new head for Heydude
Crocs has appointed Terence Reilly as the executive vice president and president for Heydude, as the brand expands its retail business and its European presence. Reilly will join the group’s executive leadership team on April 29 and will report directly to Andrew Rees, the chief executive officer of Crocs, Inc. ...
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Article
Footwear stocks treaded water in a quarter marked by shareholder activism
The prices of stocks monitored by Shoe Intelligence grew by 1.3 percent on average in the first quarter of 2024, compared with the previous three months, in very volatile trade. The quarter was marked by shareholder activism. Tabor Asset Management, a US investment company that has a 1.1 percent stake ...
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Article
Levi’s to exit the footwear business
Levi Strauss & Co, which is known for its Levi’s brand, has decided to wind down its footwear business as it streamlines its organization to bolster efficiency and profitability thanks to the Project Fuel initiative launched in January. “And after a strategic review of our categories, we have taken the ...
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Article
Crocs brand starts 2024 with momentum but $5bn sales target will take longer to reach
The Crocs brand has started 2024 “with momentum,” after sales in 2023 jumped by 14 percent to $3.0 billion, but management now expects it will take a bit longer to reach a $5.0 billion 2026 sales target unveiled in 2021. “I don’t think it’s realistic to achieve the $5 billion ...
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News briefs
Crocs brand head retires
Crocs, Inc. announced today the retirement of Michelle Poole, the executive vice president and president of the Crocs brand. She will remain in her role until early May, after which she will join the company’s advisory board until the beginning of 2025. Anne Mehlman, the current EVP and chief financial ...
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Crocs looks to international business to drive growth
Crocs expects international markets to outperform its domestic business in coming years, after a 2023 marked by a strong performance for the U.S. footwear group in Asia, led by “extraordinary” growth in China. Markets outside of the U.S. now represent nearly 40 percent of the group’s business, said Andrew Rees, ...
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Crocs hikes its FY guidance
Crocs now expects to post record 2023 revenues of approximately $3.95 billion, which would represent more than 11 percent growth year-over-year, compared with the previous guidance of a 10-11 percent increase. “2023 was a strong year for Crocs, Inc. that culminated in a successful holiday season with market share gains ...
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News briefs
Crocs appoints two board directors
Crocs has appointed John Replogle and Neeraj Tolmare to its board of directors, effective Jan. 1, 2024. “The new appointees will bring new skill sets and extensive brand building experience in consumer facing businesses to the Crocs board,” the U.S. footwear company said in a statement. Replogle “brings decades of ...
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The Footwear Collective seeks to drive industry’s transformation towards circularity
Athletic and outdoor footwear brands Brooks Running, New Balance, On, Vibram, Crocs and Ecco, along with US lifestyle brand Reformation and U.S. retailer Target, have partnered with EarthDNA to launch The Footwear Collective (TFC), a non-profit initiative dedicated to uniting the global footwear industry to accelerate the ...
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Article
Crocs taking steps to reset Heydude business
There will be some immediate pain, largely negative wholesale growth in the fourth quarter, as Crocs takes additional steps to shore up the fortunes of its Heydude business. Those efforts are focused on distribution clean-up, greater segmentation by distribution channel coupled with stronger control of digital pricing, and the establishment ...
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News briefs
Crocs launches Retail Takeback Pilot Program in the U.S.
On Oct. 27, Crocs launched in the U.S. the Retail Takeback Pilot Program to donate or recycle old shoes. Under the program, consumers can bring old Crocs shoes, in any condition, back to all of the brand’s retail stores in 10 states: Colorado, Georgia, Illinois, Michigan, Massachusetts, Minnesota, Ohio, Pennsylvania, ...
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News briefs
Crocs introduces cowboy boots
Crocs has kicked off “Croctober” with month-long festivities dedicated to the passionate, universal fan base proudly known as “Croc Nation.” This Croctober will feature one of the most requested Crocs footwear designs in the brand’s history – the Crocs Classic Cowboy Boot. “For years, the buzz around a Crocs-inspired cowboy ...
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Article
The stocks of footwear companies continued to be under pressure in Q3
The prices of stocks monitored by Shoe Intelligence fell by 7 percent on average in the third quarter of 2023 compared with the previous three months amid ongoing concern about the economic outlook due to weak demand, higher interest rates and stubborn inflation. In the second quarter, the panel was ...
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News briefs
Hobby Lobby, Orly Shoe, Amoji cleared of Crocs trademark violation
The U.S. companies Hobby Lobby and Orly Shoe and Chinese-owned Amoji were cleared of violations of Crocs’ trademark by the U.S. International Trade Commission, according to a notice published in the Federal Registar. The commission issued a limited exclusion order against defaulting respondents La Modish Boutique, Star Bay Group, Huizhou ...
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News briefs
Heydude fined by U.S. consumer protection agency
Crocs-owned brand Heydude has agreed to pay $1.95 million to settle allegations by the U.S. Federal Trade Commission (FTC) that it misled consumers by suppressing negative reviews, including more than 80 percent of those that did not award four or more stars. The FTC accuses the company of violating its ...
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News briefs
Crocs hires a new head of investor relations
Crocs has hired Erinn Murphy as senior vice president, investor relations and corporate strategy. She will join the company’s leadership team on Sept. 5, reporting directly to the group’s executive vice president and chief financial officer, Anne Mehlman. Murphy joins the company from the investment bank Piper Sandler. She built ...
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News briefs
Crocs refinances $1.18bn in debt and lowers the borrowing rate
Crocs repriced $1.18 billion in debt under its Term Loan B facility through a refinancing amendment. The move has lowered the facility’s borrowing rate by 0.50 percent. “I am very pleased with the outcome of this refinancing transaction. We successfully achieved a 0.50 percent reduction in our Term Loan B ...
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News briefs
Heydude has new content creator partner
Casual footwear brand Heydude has announced a partnership with content creators Dude Perfect. In what is a long-term partnership, the American sports and comedy group Dude Perfect will work in lockstep with Heydude on upcoming brand campaigns and creating bespoke content for the brand. The five members of Dude Perfect ...
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Concern about a slowdown at Heydude weighs on Crocs
Crocs Inc. generated more than $1 billion in second-quarter revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance on to surpass the $4 billion mark, but the company’s share price plummeted 14 percent on the day on worries that the group’s pace of revenue growth, particularly ...
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News briefs
Crocs sues former employee over company secrets
Crocs has sued former executive Kellen McCarvel and his company Joybees in a Colorado district court. The company alleges McCarvel left Crocs with several thousand highly confidential trade secrets that he downloaded onto a personal thumb drive and then used to build a competing shoe company. Some of the documents ...