Gregg Ribatt, Chief Executive Officer, commented: “We continue to manage our business tightly in what remains a challenging consumer environment. Revenues were in-line with our expectations while gross margin exceeded our guidance by approximately 200 basis points as we further limited off-price selling and promotional activities. At the same time, we reduced our inventories 11% compared with last year. Looking ahead, we continue to plan conservatively given the current top-line headwinds. We are working hard to drive quality growth through our product, marketing, and distribution strategies and we remain confident that the steps we’ve taken to build a better business model will result in increased profitability and greater shareholder value.”

Crocs announced revenues in the third quarter in-line with guidance, totaling 245.9 million US dollars. On a constant currency basis, revenue decreased by 11.6%, compared to the same period last year.

In the period under analysis, the company reported GAAP net loss attributable to common stockholders of 5.4 million US dollars, or 0.07 US dollars per basic and diluted share, compared to a net loss attributable to common stockholders of 27.8 million US dollars, or 0.37 US dollars per basic and diluted share, in the same quarter of the prior year.

The company expects fourth quarter 2016 revenues in the 185.0 to 195.0 million US dollars’ range compared to 208.7 million US dollars in the fourth quarter of 2015. For the year ended on the 31st of December, Crocs expects revenues to be 1 034.0 million US dollars to 1 044.0 million US dollars.