Crocs Turned A Deficit In The First Quarter, And The Investment Bank Was Beaten Again.

Crocs, a hole shoe that has long been looked down by investment banks, has recently announced its first quarter earnings and detonated the news of turning losses into gain. Therefore, the investment bank that has been in decline has been cracking.

It is reported that in the first quarter of March 31st, Crocs revenue increased by 6.5% to 279 million US dollars over the same period of last fiscal year. Although it is still an increase in the number of units, it has outperformed $5 million 980 thousand in the same period last year. In addition, the group's operating income in the first quarter was also better than the $265 million 900 thousand expected by the market.

In terms of net profit, the group also set a record of US $6 million 400 thousand, not only narrowing sharply, but also getting rid of it.

Embarrassment.

The group said that the reason for a good start for the 2016 fiscal year was mainly due to the integration of the 2016 spring and summer product lines and the strong sales response of the whole product.

The continued development has also pushed the group out of the downturn in the past 21 months.

Despite the Crocs's return to profitability in the first quarter, the group remained cautious in its outlook for the two quarter, and the target of $3.4 to $3.5 was lower than the $358 million expected by the market.

However, due to the first quarter

At last, Crocs's share price rose by 29% to 9.795 dollars on the same day.

Previously, investment banks had lowered the rating of Crocs, from "buying" to "holding", but also not optimistic about the group's recovery plan.

In addition, investment banks have even pferred the rating of Crocs to a highly recommended rating.