Crocs bitten by Japan
25/10/2012
Total sales for US-based brand, famous for its bright plastic clogs, rose 7.5% to $295.6 million, while analysts were expecting $302.4 million.
Its chief executive John McCarvel said in a statement that the weakening euro had impacted sales.
Chief financial officer Jeff Lasher added that the retail market was also challenging in Japan, where sales were flat, and the company had suffered a delayed shipment of $2.5 million in wholesale orders following a strike in one of its manufacturing locations there.
However, sales in China increased 47% and its Korea business expanded 18%.
The brand is investing heavily in Asia and expects it to become its biggest market by the end of next year.
Share this story:
