Crocs Q3 sales dip as Heydude struggles, wholesale demand softens

Crocs posted consolidated revenues of $996m in Q3 compared to $836m in 2024, with DTC up 1.6% but wholesale down 14.7%. Operating income fell 23% to $208m from $270m, while adjusted diluted earnings per share dropped 18.9% to $2.92. Crocs reported a net income loss of $145m compared to $199m in the same period last year and a decrease in gross profit to $583m from $633m. Despite lower revenues, Crocs continued to generate strong cash flow, allowing it to repurchase 2.4m shares worth $203m and reduce deb ...