Gregg Ribatt, Crocs' Chief Executive Officer, said: "We delivered first quarter sales in line with expectations. Our business continues to stabilize around the globe and we believe the strategy the company outlined last July is positioning Crocs for sustained success in the future. We continue to make meaningful progress in implementing the strategy including: strengthening our brand; elevating our product stories; evolving our international business to focus on our six core markets; strengthening our relationships with key wholesale partners; improving our direct to consumer capabilities; simplifying our business model; and, building a best in class team. We are confident that these moves are laying the foundation to position the company for sustained growth in the future."

Revenue for the first quarter reached 262.2 million US dollars, in line with expectations, despite reflecting a decline of 16.1% compared to similar period in 2014. On a constant currency basis, Crocs revenue decreased 8.3% as compared to the prior year.

The Americas region continues to be the most important one generating 40.3% of the company’s total revenue and totaling 105.8 million US dollars. Asia Pacific follows, with a 38.1% share and then, Europe (21.5%). Revenue declined in all regions, most significantly in Asia Pacific (-23.8%) and Europe (-12.0%). In the Americas, revenue declined by 9.7% in the first quarter of 2015, compared to similar quarter last year. In constant currency terms, revenue generated in Europe would have grown by 12.1%, which makes this region the most impacted by currency fluctuations.

In terms of distribution channels, wholesale had a drop in revenue of 17.8%. Retail declined by 12.2% and Internet based sales by 11.9%. Revenue generated through wholesale reached 178.6 million US dollars in the first quarter. Retail follows with 66.4 million US dollars. Total purchases made though the online platform reached 17.3 million US dollars in the first quarter of 2015.

In the period under analysis, Crocs incurred a net loss attributable to common stockholders of 6.0 million US dollars or 0.08 US dollars per share, compared with net income of 6.4 million US dollars or 0.06 US dollars per diluted share in the same quarter of the prior year.

While announcing the results for the first quarter, Crocs also confirmed a series of senior level organizational changes including the elimination of the Chief Operating Officer and the SVP of Global Supply Chain roles as well as the addition of the SVP of Global Sourcing and the SVP of Global Distribution and Logistics roles.