Niwot shoemaker Crocs Inc., in the process of shutting down a quarter of its retail stores, reported third-quarter revenues fell from a year earlier. But executives touted its rising brand perception.
Crocs reported revenues fell to $243.2 million from $245.9 million a year earlier. The company cut its loss to a loss of $2.3 million, or a loss of 3 cents per diluted share, from a loss of $5.3 million, or a loss of 7 cents per share a year earlier.
Analysts polled by Thomson Reuters First Call expected third-quarter revenues of $237.5 million and a loss of 5 cents per share.
"The perception of the brand continued to rise, with results from our latest annual brand survey showing double digit increases in brand desirability, relevance and consideration compared to last year," said Andrew Rees, president and CEO, in a statement.
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