Cave Shoe Retailer Carol Chi'S Two Quarter Revenue Fell 6.3%

Retailer Crocs Inc. (NASDAQ:CROX)

The revitalization process has been battered in the past two quarters, and sales and profits have not been satisfactory.

The group is also due to the difficult retail environment and China.

The slower recovery rate is expected to reverse the whole year's sales, causing the group's share price to fall by as much as 22.2% today.

In the two quarter of 4-6 months, Crocs Inc., Carol's revenue declined 6.3% to 323 million 800 thousand US dollars, less than 348 million 500 thousand dollars of market expectations and the group's own expected 3.4-3.5 billion, compared with 6.5% growth in the first quarter.

During the period, sales in the Americas and the Asia Pacific region decreased by 5.6% and 12.5% to 135 million 100 thousand US dollars and 130 million 800 thousand US dollars respectively, only 9.5% in Europe and increased to 57 million 660 thousand US dollars.

The Group expects revenue to accelerate in the three quarter, and the expected revenue of 2.45-2.55 billion will reduce 7.0%-10.6% from 274 million 100 thousand US dollars in the three quarter of last year, and the market is expected to be $289 million.

Annual income is also expected to have low single digit declines.

In the two quarter, the net profit of Crocs Inc. and Carol Chi recorded a profit of US $11 million 700 thousand, an increase of 21.1% over the same period last year of US $9 million 690 thousand, and the profit per share increased from $0.11 to US $0.13, which is worse than the $0.15 expected by FactSet.

Adjusted net profit plummeted 56% to $12 million 10 thousand.

In this bad earnings report, Gregg Ribatt Ribatt, the group's chief executive, can only talk about the "bright spot" of the 2.9% same store sales growth, which includes the retail and electronic commerce directly facing the consumer's fixed exchange rate. However, he did not mention that after the contribution of e-commerce was removed, in fact, the retail sales of real retail stores fell by 3.4%.

In addition, he pointed out that the increasingly challenging global retail environment led to a reduction in wholesale orders.

Crocs Inc. (NASDAQ:CROX) dropped at 25.73% AM at 11:45 AM Eastern time.