Crocs reports q1 earnings per share of $0.16

Crocs, inc. reports fiscal 2020 first quarter results.q1 earnings per share $0.16.q1 earnings per share estimate $0.36 -- refinitiv ibes data.q1 adjusted earnings per share $0.22 excluding items.q1 revenue $281.2 million versus refinitiv ibes estimate of $295.3 million.qtrly americas revenues increased 14.4% and e-commerce revenues rose 15.8% from q1 2019.crocs- at this time, co estimates that stores will begin to open in stages over coming months.crocs- expect revenue declines to continue in retail and wholesale channels as “social distancing” practices remain in effect.crocs- expect larger decline in revenues in q2, as majority of retail and partner stores may be closed for the whole period.crocs- beginning to see some recovery in store traffic and sales in china and korea where almost all stores are now open.crocs- seeing declines in japan, india, and much of southeast asia, areas that have been impacted by a second wave of the virus.crocs- compensation for board and senior leadership has been significantly reduced for the foreseeable future to enhance liquidity.crocs- temporarily furloughed retail employees but have retained store managers and assistant store managers, albeit with reduced hrs in north america.crocs- across co for 2020, co reduced hiring, suspended annual increases, market adjustments, promotions that were scheduled to go into effect in 2020.
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