Crocs Q1 revenues remain flat, withdraws full-year outlook

Crocs, Inc. has announced its first-quarter 2025 financial results, surpassing expectations despite a challenging global environment. However, due to the unpredictable nature of the current global trade environment and consumer uncertainty, Crocs has decided to withdraw its full-year 2025 guidance.

The company reported consolidated revenues of 937 million dollars, remaining flat year-over-year but marking a 1.4 percent increase on a constant currency basis. Direct-to-consumer revenues grew by 2.3 percent, while wholesale revenues experienced a slight decline of 1.6 percent.

The Crocs brand continued its strong performance, contributing significantly to the company's overall results, with an increase of 2.4 percent to 762 million dollars, or 4.2 percent on a constant currency basis. Meanwhile, the Heydude brand decreased 9.8 percent to 176 million dollars, or 9.5 percent on a constant currency basis.

Andrew Rees, chief executive officer, said, "While we are pleased by the performance of our overall business in April, the new global trade environment as well as business and consumer uncertainty, has made it challenging to predict how consumers may respond in the future. Amid this heightened operating backdrop, we are withdrawing our guidance for 2025."

Despite these uncertainties, Crocs remains confident in its ability to navigate the challenges ahead. Rees added, "We have a proven track record of coming out of periods of uncertainty stronger than when we entered them. I believe the current reality presents an opportunity to gain market share, as we focus on what we can control and lean into our clear, competitive advantages."

The company returned 61 million dollars to shareholders through share repurchases during the quarter, all while maintaining a solid balance sheet.