here an last CFO I'm looking the of you, Revenues first results. of I'm everyone. for the meeting a million Andrew, from as $XX.X were delighted to morning, with currency overview versus Store time revenues our many negative and third to $XX by even and Crocs' you the million year good our results exceeded morning in this absorbed of over X.X% guidance we These of approximately person changes quarter new you a coming model I'll $XXX be million begin speaking months. quarter million, forward ago, to $X.X and Thank to reduced impact business $XXX.X third million. up or closures million. year. $XXX as
in would the grew row changes. $XX over an which revenues approximately of increase our grown quarter for our business a our after rates million QX of in strength business. we of XX.X underlying double-digit sold is revenues fourth third illustrating We have pairs the by year's X% million the adjusting quarter. headwind, Excluding shoes, at model XX%, last
QX Our footwear to X% selling for during $XX.XX. increased price average
reviewing Before highlight announced reporting I financial we morning. a this segment to change results, want
has and is operated channel. and our which businesses, and for SVP GM distributors, responsibility assumed wholesale Europe through Our into Africa in East Middle our flows
reflect to purposes. reporting We movement recast results have segment accordingly this made appropriate and to remain for our Asia segments Consolidated comparative period and adjustments financial have Europe prior unchanged.
consisted Middle in million During XXXX, an approximately from Africa third and the and of that our they Americas all wholesale of our perspective, increase three are the revenues million the The as $XXX business. of revenues XX.X%. of a by $XX From expectations in amounts reported. following year, were exclusively Results distribution regional middle East generated quarter, combined businesses the exceeded channels.
impacted as currency with the results During very about we Latin customers currency In Wholesale revenues demand. America, America, quarter a placed negatively good economic In last $X.X you consumer our quarter depreciation orders the at-once North million. continued. spoke X.X%. to increased meet and we third had by disruptions quarter,
guidance. factored have our We into impacts these
was comp up DTC Americas XX.X%. Our
for up a Our third stores Total grew sixth having revenues year's XX.X%, retail XX retail fewer quarter. in comp despite quarter last than was the XX.X% row. in
Our back-to-school E-commerce traffic North site UPTs. as XX.X% and American business. revenues robust stores benefited rose from we a generated higher increased
our revenues Currency the not of with impacted by revenues million. X.X% our experienced we wholesale third see year's XX.X% Asia, Wholesale store declined quarter results expanding closures. continue underpenetrated revenues to e-tail the $X.X stores, as presence $XX.X grow in from reach from distributors fully increased million offset decline strong, our in impact multi-brand third expand geographies. as resulting key e-commerce in to quarter region business did Turning the and accounts of strong last and retail negatively
X.X%. Our comp was Asia DTC
stores our following Europe, X.X%, $XX.X was and The to ASPs $X.X% fewer retail of UPTs E-commerce last by brand XX up driven exceptionally in compared revenues availability revenues third In time open comp XX.X% million of strong traffic of built-for-outlet grew year. sales increased same product. in as Our quarter, unit and higher the over heels Retail increased declined second to revenues improve year's XX.X% to Europe. last on the quarter. continues perception increased. with
well drove last quarter high million. and we X.X% clog by benefited in product that revenues call, exceeding we weather summer which much noted into impacted expectations. Additionally, throughout benefited our late the growing customers anticipation sales levels the of the spring/summer On seeking fall. some from our QX of third grew negatively Wholesale $X.X sandal from additional demand. warm quarter, Currency of
we QX. As more muted sales result, expected a had in
we are with outcome. pleased particularly So, this
Our Europe XX.X%. DTC comp was up
benefiting up for revenues. fewer retail XX.X%, better availability built-for-outlet as accounted did retail was operate the from increased comp product. as reduction in Our of demand We which retail stores, XX.X% XX our well
grew e-commerce by Our based increased appeal collection business of the XX.X% traffic. on and site our
to in guidance points margin QX and other significantly was items than of on XXX margin XX.X%. our Moving higher our coming gross basis better our P&L, XXXX than our XX.X% gross
expectations Europe across and exceeded contemplated. demand as than full than originally we Our that anticipated. is sandals was more drove The North a working. And in price strategy selling better margin higher America so more we expected clogs weather also we result, and than had saw
dollar this reduced margin. cost gross weaker overseas year our which inventory markets, helped earlier a Additionally, our in
Our $XXX.X incentive slight SG&A revenues. other costs exceeded compensation $X.X increase and by expenses variable million increased at and had million with result a higher of to the as associated guided we
in XXX SG&A percent came with marketing had for came further the compared of success million, $X the growing income and charges quarter. were attributable preferred quarter. to we charges million points loss as income margin, revenues $XX.X while last common common SG&A XX.X% third quarter, dividends with expenses, This and third to million company-owned to to non-recurring million limiting of an of available plan. year's $X.X a improvement reduction of of share we XXX to manufacturing revenues over relating preferred in million $X.X of a equivalence point relating adjusting rights even and SG&A Due participation at operations further gross last during our million to to after non-recurring million. our to $X.X basis As of last our made reduction in our year's Total termination the income compares After last year's $X quarter incurred investments. operations to the third in stockholders million, plan. basis remaining from stockholders million net a was increase $X.X over Net $X.X share climbed remaining million $X.X $X.X year's third connection
quarter. stockholders common last in diluted loss compared EPS Our $X.XX $X.XX to to a attributable was of year's third
the credit million ended, our $XXX.X XXXX. of at our borrowing million under terms. cash balance to borrowings of very $XXX Our with compared This third credit QX quarter borrowings Inventory to be We end strong. our quarter amended year. credit facility. capacity with $XXX ended outstanding sheet at and last cash end agreement a no $XXX.X the million million, the million in increase line to to compares After was continues quarter to and outstanding favorable from $XXX decrease XX.X% more of our the no same in the on time we
than XXX,XXX the per of an period XX, common shares And per of September for XX-month over of available X.X% share million in stock at more of leaves shares at X.X average under We operating current September third ended plan for period the repurchased share. XX, million average approximately million price During nine This same our trailing the an price quarter, million $XX.XX $XX.X during for generated year. our months we million $XX activities we $XX.X $XX.XX. ended repurchased XXXX, future last cash $XXX from repurchases. the
on basis rates. to currency our we want you on based in I guidance turn that reported remind as As is guidance, to current
margin and expect XX.X% of year's in quarter year's XXX reduced quarter. $XXX fourth model negative Gross $XX a XX to points the approximately to count million is includes $XXX.X to $X of impact approximately last For of million business million, million compared we a quarter. be revenues loss quarter currency last changes with revenues. $XXX of to points million This in basis associated fourth compared approximately higher to the revenues of fourth for expected basis fourth to XXXX, and store
lower last is million quarter quarter. last includes to $XXX.X approximately to be approximately fourth of compared fourth million. Our non-recurring in year's $X.X million expected million $X $XX charges compared to SG&A This year's
approximately million our year CapEx up anticipated. full Lastly, we infrastructure-related quarter, we $XX $XX the spend bringing activities to on expect this had million to
$XX to increase. let guidance. grow our approximately previously and full our guidance. year are than as revenues our this expected a are currency we the now turn once full from very single-digit E-commerce We me revenues lower guided more of Now, wholesale half had retail revenues respect With negative to low resulting absorb to to offset pleased X% the of year. for expect to a closures. in XXXX, X% year we to million back We increase full impact growth even to year store again
model We revenues XXXX million by store continue estimate to XXXX. that to business our changes approximately closures compared and $XX will reduce
to Excluding million first year This expected weaker half We is gross we approximately the of to SG&A benefited our $XXX points our XX.X% revenues of our higher compensation XX guidance in be $XXX the with and in million basis other from full to costs XX%. year's associated approximately now to XXX incentive the of the our basis dollar to now increase gross mind headwind, growing margin keep U.S. point reflects for prior $XX Please over expect the year. million variable increase. our guidance change million. revenues. a compared anticipate basis point over last margin that prior rate, XXX $XX
to we which mid-single XXXX time, XXXX, revenues. expected retail some XXXX resulting reduce respect in tailwind want guidance XXXX. lower a $XX estimate $XXX.X anticipated of which million do than from $XX we by million. the million us from to adjusted define to million provided last and to approximately million detailed thoughts are reduction, incurring compared year, XXXX to now of which not million closures year. digit XXXX. For from will of currency is With EBITDA of our million, more approximately operations offset from in We up $XX Absent non-recurring anticipate plus $XX year. grow while $XX at over adjusted we estimate previous up just now and and adjusted rate $XX XXXX. include store charges, over and our income to $XX We revenues providing revenues growth to expense to and to that estimate million half currently non-recurring prior million approximately high was now EBITDA our to $XX over will single million under top-line operations $XX EBITDA million $XXX at in XXXX $X.X $XX tax depreciation full provide million expect income at of compared anticipated will estimate of million expect revenues. non-recurring to $XX We approximately slightly a guidance we the turn guidance SG&A amortization this over approximately thoughts. our compared on the I expect income estimated is to we million. expected first time, his Wholesale still mid be At be back call XXXX from XXXX We $XX million impact Andrew final charges. and our digit amortization that this depreciation for negatively to from I'll last compared XXXX up our revenues is the prior as charges. of up be e-commerce and
