Crocs posts strong Q1 2025 results, withdraws full-year outlook

Crocs Inc. announced on Thursday a revenue increase of 1.4% in its first quarter, on the back of an increase in sales at its flagship brand. 

The Broomfield, Colorado-based footwear firm said revenues for the first quarter ended March 31, reached $937 million. Direct-to-consumer revenues grew 2.3%, while wholesale revenues contracted 1.6%.

By brand, Crocs revenues increased 2.4% to $762 million, with both DTC and wholesale revenues up 1.1% to $285 million and 3.2% to $477 million, respectively. 

Revenue was partially offset by Heydude brand sales, the casual footwear brand acquired by Crocs in 2022, where revenues decreased 9.8% to $176 million. DTC revenues increased 8.3% to $65 million, while wholesale revenues decreased 17.9% to $111 million.

“We are incredibly proud of our better-than-expected first quarter performance despite what has been an increasingly volatile macroeconomic backdrop since the onset of the year. Both our Crocs and Heydude brands contributed to the outperformance with gross margins, operating margins, adjusted earnings per share, and cash flow coming in above plan,” said Andrew Rees, chief executive officer, Crocs.

The company withdrew its previous guidance issued in February, due to macroeconomic uncertainties stemming from global trade policies. No revised full-year outlook has been provided.

“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,” added Rees.

“We are committed to remaining transparent to our investment community, our consumers, and our customers as we work to chart a winning course.”