Fourth quarter revenues dipped 3% to $957,640,000 from $989,773,000 as positive Holiday results in North America and double-digit gains in International were tempered by inventory management moves, a promotional pullback at Crocs, and the ongoing Heydude reset. Net income tumbled 71% to $105,165,000 from $368,909,000, taking a hit from $22.0 million in income tax expense, lapping a $193.7 million benefit a year ago.

Crocs brand sales inched down 1% to $768.4 million as wholesale declined 7% to $293.5 million, offsetting a 6% gain in direct-to-consumer to $474.8 million. In North America, Holiday ... Log in to view full article.