Crocs' sales grew by 12.0 percent in the second quarter to $330.9 million, fueled by increases of 10.9 percent in the Americas and 20.5 percent in Asia.
In Europe, sales fell by 5.2 percent in terms of dollars. In local currencies, however, European sales dropped by 0.5 percent at wholesale and by 7.1 percent over the internet. They rose instead by 46.3 percent in the company's own retail stores, whose number went up to a total of 54 units, compared with 30 doors one year earlier. On a comparable store basis, European stores performed 9.5 percent better in local currencies. They generated sales of $9.1 million during the quarter, compared with European sales of $7.7 million over the internet and $32.5 million to wholesale customers
On a global basis, the company's retail sales rose by 22.6 percent to $112.5 million, with growth of 6.6 percent on a same-store basis in terms of dollars and 1.8 percent in constant currencies. Crocs ended the quarter with a total of 484 retail locations around the world, which compared with 397 at the same time a year ago. Wholesale revenues increased by 7.3 percent globally to $188.5 million.
The gross margin improved to 59.3 percent from 57.6 percent a year ago, thanks in part to restraint in giving away discounts. This helped to push up net earnings for the quarter to $61.5 million, compared with $55.5 million.
In spite of increases in the order backlog of 2.7 percent in dollars and 6 percent in local currencies, total revenues are still expected to grow for the year by 14 percent in dollars and 17.5 percent in constant currencies.