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Article Date: February 2021
Word Count: 579

Crocs Posts Strong Q4 Gains to Finish 2020


Net income rocketed 821% higher to $183,330,000 from $19,913,000 on record revenues that were up 57% to $411,506,000 over $262,979,000. The bottom line was boosted by a $119,907,000 tax benefit versus a prior year benefit of $13,693,000, related to changes in the tax structure of operations. Pairs sold were up 38% to 18.9 million, while ASP gained 14% to $12.63. Gross margin expanded 770 b.p. to 55.7% from 48% on full-price selling, favorable product mix and operating leverage. SG&A expanded 40% but still leveraged on the strong sales, which managed to offset increased variable expenses related to growth and marketing ... Log in to view full article.

 


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