Crocs (CROX) Posts Q3 GAAP Loss of 7c/Share; Guides Q4, FY16 Revenue Below Views
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Crocs, Inc. Reports Third Quarter 2016 Financial Results
November 9, 2016 7:30 AM ESTNIWOT, Colo., Nov. 09, 2016 (GLOBE NEWSWIRE) -- Crocs, Inc. (NASDAQ: CROX) today reported financial results for the three months ended September 30, 2016.
Third Quarter Highlights:
Revenues were in-line with guidance at $245.9 million for the three months ended September 30, 2016. On a constant currency basis, revenues decreased 11.6%, compared to the three months ended September 30, 2015.Improved inventory management resulted in a $21.4 million, or 11.2%, decrease in inventory as of September 30, 2016 compared to September 30, 2015.Gregg Ribatt, Chief Executive Officer, said: We continue to manage... More
