Crocs 8-K Details Segment Financials for Crocs & HEYDUDE Brands
Ticker: CROX · Form: 8-K · Filed: Jan 8, 2024 · CIK: 1334036
| Field | Detail |
|---|---|
| Company | Crocs, INC. (CROX) |
| Form Type | 8-K |
| Filed Date | Jan 8, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: segment-reporting, financial-disclosure, 8-K, historical-data
TL;DR
**Crocs just dropped detailed segment financials for Crocs and HEYDUDE brands, giving investors a clearer picture of each brand's performance.**
AI Summary
Crocs, Inc. filed an 8-K on January 8, 2024, primarily to disclose financial data for its Crocs Brand and HEYDUDE Brand segments, as well as corporate non-segment data, for various periods from 2020 through the third quarter of 2023. This filing provides detailed historical financial breakdowns, including segment-specific revenues and profits, which are crucial for investors to understand the individual performance drivers of Crocs' two main brands. This matters to investors because it offers transparency into the financial health and growth trajectories of each brand, helping them assess the company's overall strategy and future earnings potential.
Why It Matters
This filing offers a granular look at the financial performance of Crocs' individual brands, allowing investors to evaluate the success of each segment and the overall business strategy. Understanding these segment-level details is key to forecasting future growth and profitability.
Risk Assessment
Risk Level: low — This 8-K is a routine disclosure of historical financial data, not indicating any new significant risks or events.
Analyst Insight
A smart investor would use this detailed segment data to perform a deeper analysis of the individual performance trends of the Crocs and HEYDUDE brands, comparing their growth rates and profitability to assess which brand is contributing more to the company's overall success and future potential.
Key Players & Entities
- Crocs, Inc. (company) — the filer of the 8-K
- Crocs Brand Segment (company) — one of Crocs, Inc.'s operating segments
- HEYDUDE Brand Segment (company) — one of Crocs, Inc.'s operating segments
- January 8, 2024 (date) — the filing date of the 8-K
- 2020 (date) — start of the earliest financial data reported
- September 30, 2023 (date) — end of the latest financial data reported
FAQ
What is the purpose of this 8-K filing by Crocs, Inc. on January 8, 2024?
The purpose of this 8-K filing is to provide detailed financial information for Crocs, Inc.'s operating segments, specifically the Crocs Brand Segment and the HEYDUDE Brand Segment, as well as corporate non-segment data, for various periods from 2020 through the third quarter of 2023.
Which specific financial periods are covered in this 8-K filing for the Crocs Brand Segment?
The Crocs Brand Segment data covers the full years 2020, 2021, and 2022, as well as the first, second, and third quarters of 2023, and the year-to-date periods ending March 31, June 30, and September 30, 2023.
Which specific financial periods are covered in this 8-K filing for the HEYDUDE Brand Segment?
The HEYDUDE Brand Segment data covers the full years 2020, 2021, and 2022, as well as the first, second, and third quarters of 2023, and the year-to-date periods ending March 31, June 30, and September 30, 2023.
What type of financial information is being disclosed for the segments in this filing?
The filing discloses segment-level financial data, which typically includes revenues, profits, and other relevant financial metrics, allowing for an analysis of each brand's individual performance.
Why is the disclosure of segment-level data important for investors?
The disclosure of segment-level data is important for investors because it provides transparency into the performance of each of Crocs, Inc.'s key brands (Crocs and HEYDUDE), enabling them to better understand the drivers of the company's overall financial results and assess the growth and profitability of each segment independently.
Filing Stats: 1,030 words · 4 min read · ~3 pages · Grade level 10.3 · Accepted 2024-01-08 07:02:38
Key Financial Figures
- $0.001 — ch registered: Common Stock, par value $0.001 per share CROX The Nasdaq Global Select
Filing Documents
- crox-20240108.htm (8-K) — 56KB
- exhibit991pressrelease1824.htm (EX-99.1) — 23KB
- crox-20240108_d2.htm (EX-99.2) — 93KB
- crocs_incxlogoxcrocsxincxg.jpg (GRAPHIC) — 38KB
- 0001334036-24-000012.txt ( ) — 857KB
- crox-20240108.xsd (EX-101.SCH) — 5KB
- crox-20240108_def.xml (EX-101.DEF) — 9KB
- crox-20240108_lab.xml (EX-101.LAB) — 41KB
- crox-20240108_pre.xml (EX-101.PRE) — 23KB
- crox-20240108_htm.xml (XML) — 204KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On January 8, 2024, Crocs, Inc. ("we," "our") issued a press release updating its financial guidance and announcing its participation in the 2024 Annual ICR Conference. A copy of the press release is furnished as Exhibit 99.1 to this report.
01. Other Events
Item 8.01. Other Events. We are also filing this Current Report on Form 8-K to reflect changes to the presentation of our notes to the consolidated financial statements as set forth in (i) our Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the Securities and Exchange Commission (the "SEC") on February 16, 2023 (the "2022 10-K"), (ii) our Quarterly Report on Form 10-Q for the period ended March 31, 2023, as filed with the SEC on April 27, 2023 (the "Q1 2023 10-Q"), (iii) our Quarterly Report on Form 10-Q for the period ended June 30, 2023, as filed with the SEC on July 27, 2023 (the "Q2 2023 10-Q"), and (iv) our Quarterly Report on Form 10-Q for the period ended September 30, 2023, as filed with the SEC on November 2, 2023 (the "Q3 2023 10-Q"), in order to give effect to a change in segment reporting. Our business has continued to evolve in the period following the consummation of the HEYDUDE acquisition, as we have grown the brand and staffed and developed our leadership team at HEYDUDE. In the fourth quarter of 2023, to reflect changes in the way management evaluates performance, makes operating decisions, and allocates resources, we updated our reportable operating segments to be (i) Crocs Brand and (ii) HEYDUDE Brand. Each of the reportable operating segments derives its revenues from the sale of footwear, apparel, and accessories to external customers. Each segment's performance is evaluated based on segment results without allocating Enterprise corporate expenses, which include global corporate costs associated with both brands such as legal, information technology, human resources, and finance. Segment profit and losses include adjustments to eliminate inter-segment sales. Reconciling items between segment income from operations and income from operations consist of unallocated Enterprise corporate and other expenses, as well as inter-segment eliminations. To reflect the change in segment reporting, we have attached Exhibi
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Crocs, Inc. press release dated January 8, 2024. 99.2 Unaudited revised Operating Segment and Geographic Information footnotes in Annual Report on Form 10-K for the year ended December 31, 2022 and in the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023. 101.INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. 101.SCH XBRL Taxonomy Extension Schema Document. 101.CAL XBRL Taxonomy Extension Calculation Linkbase Document. 101.DEF XBRL Taxonomy Extension Definition Linkbase Document. 101.LAB XBRL Taxonomy Extension Label Linkbase Document. 101.PRE XBRL Taxonomy Extension Presentation Linkbase Document. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CROCS, INC. Date: January 8, 2024 By: /s/ Anne Mehlman Anne Mehlman Executive Vice President and Chief Financial Officer 3