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Crocs clocks record 2024 revenue of $4.1 billion

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February 13, 2025

Crocs Inc. announced on Thursday a 3.5 percent lift in sales to $4.1 billion for 2024, on the back of a strong fourth quarter.

Crocs clocks record 2024 revenue of $4.1 billion. – Crocs

The Broomfield, Colorado-based footwear firm said fourth-quarter revenues were $990 million, an increase of 3.1%, from the same period last year with direct-to-consumer revenues up 5.5%, partially offset by a 0.2% contraction in wholesale revenues.

By brand, Crocs revenues were $762 million, up 4%, while HeyDude revenues were flat at $228 million. 

In the quarter, income from operations of $200 million decreased 4.6% from $210 million, while diluted earnings per share of $6.36 increased 52.9% from $4.16.

“We delivered another record year for Crocs, Inc. highlighted by revenue growth of 4% to $4.1 billion and adjusted earnings-per-share growth of 9%. We generated exceptional operating cash flow of approximately $990 million, which enabled us to return value to shareholders through more than $550 million in share repurchases, while fortifying our balance sheet through the pay down of approximately $320 million of debt,” said Andrew Rees, chief executive officer, Crocs Inc.

“For 2025, we are expecting another year of revenue growth, led by mid-single digit growth in the Crocs Brand. We are pleased by the early signs of progress we made for HeyDude during the fourth quarter and are taking a prudent approach to how we shape 2025 guidance for HeyDude as we focus on reigniting the brand.”

Looking ahead, Crocs said it expects first-quarter 2024 revenues to be down approximately 3.5% compared to the first quarter of 2024. For 2025, the company is expecting revenue growth of approximately 2% to 2.5% compared to full year 2024.

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Fashion

Unibail-Rodamco-Westfield tops 2024 financial target

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20 minutes ago

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February 13, 2025

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AFP

Translated by

Nicola Mira

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February 13, 2025

On Thursday, commercial real estate giant Unibail-Rodamco-Westfield (URW) reported a positive recurring net result, its benchmark financial indicator, of €1.47 billion, up 4.5% and exceeding the target set by the group.

Unibail-Rodamco-Westfield

The Westfield owner has reduced its financial debt to €19.5 billion, and generated €1.6 billion through asset disposals since January 2024, including the sale of the stakes it held in the Westfield Forum des Halles shopping mall and the Trinity office tower at La Défense in Paris.

In a conference call, URW CEO Jean-Marie Tritant hailed the group’s “excellent financial results” in 2024, notably the increase in net rents received in all of its business sectors: rents received were up by 5.8% in shopping malls, by 14.4% in office properties, and by 21.3% in convention and exhibition facilities.

In shopping malls, which account for the main share of the rents received by URW, the vacancy rate fell to 4.8%, its lowest level since 2017, while visitor attendance increased by 2.6% and retailers’ revenue by 4.5% compared to 2023.

EBITDA increased by 6.9% over 2023, reaching €2.35 billion.

Adjusted recurring earnings per share, URW’s benchmark profitability indicator, rose by 2.4% to €9.85 per share, above the target set between €9.65 and €9.80 per share.

In the last four years, URW has divested €6.4 billion worth of assets as part of its strategic transformation, a plan that Tritant described as “successful,” leading the group to decide to “retain our high-performing flagship assets in the US.”

URW will propose to pay a dividend of €3.50 per share.

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FatFace returns to Jersey for first time since 2021

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51 minutes ago

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February 13, 2025

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February 13, 2025

FatFace is heading back to the island of Jersey. After closing its standalone store in 2021, the British fashion/lifestyle retailer returns with a 1,978 sq ft store on King Street, St Helier, this month.

FatFace

It opens in time to deliver the brand’s new spring collection as well as “iconic items from its core range”.

The St Helier location will create five new jobs and the stores director for FatFace said King Street is a prime location, “and this store represents our commitment to serving our loyal Jersey customers with a vibrant and welcoming shopping experience”.

The brand, which operates 189 UK stores, six in the Republic of Ireland, and over 20 stores in the US, began 2025 on a strong promotional footing, taking on a “transformative” three-year lead brand sponsorship of professional netball team London Pulse to “power of female sport, style, community and inclusivity”.

This year will see the FatFace brand emblazoned on the team’s shirts, gaining televised exposure via Sky Sports and BBC Sport coverage of the Netball Super League, where the partnership “will elevate the visibility of netball and FatFace to diverse audiences across the UK”.

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Stradivarius signs at Metrocentre with 10,000 sq ft regional debut

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1 hour ago

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February 13, 2025

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February 13, 2025

Inditex-owned fashion brand Stradivarius has signed to open at Newcastle’s Metrocentre, marking the brand’s first location in the North East. And for the centre’s operator, Sovereign Centros/CBRE, its impending arrival further underscores the destination’s “regional dominance in attracting the latest and most sought-after fashion brands”.

Stradivarius will open a near-10,000 sq ft space on its lower Red Mall this summer, just along from sister brand Zara while complementing the area’s already strong line-up of fashion retailers, including Reiss, Mango and the newly refurbished River Island.

The centre’s operator said Metrocentre welcomed 15.8 million visitors in 2024, a 10% increase compared to the previous year. Nearly 300,000 sq ft of deals were also completed in the last 12 months, driving a 9.2% year-on-year footfall uplift so far this year.

The strong growth in visits “reflects the centre’s ongoing success in attracting new brands while supporting the expansion of existing tenants, cementing its dominant position within the North East and contribution to the national retail landscape”, it noted.

Ben Cox, director at Sovereign Centros from CBRE, Asset Manager of the Metrocentre, added: “Stradivarius signing for this regional debut is a huge statement for Metrocentre, confirming its appeal as the premier retail destination in the North East. Inditex’s decision to bring another of its leading brands to Red Mall showcases our ability to deliver the best in fashion experiences to our growing and increasingly loyal customer base.”

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