Retail in Asia

In Sectors

Crocs 1Q net profit up 2pc, driven by Asia sales

US footwear maker Crocs Inc. on Wednesday said net profit rose 2 percent in the first quarter of 2013 from USD28.3 million to USD29m, driven by Asia-Pacific sales.

Revenue for the three months ended on 31 March rose 14.7 percent to USD311.7m compared with USD271.8m in the same period last year. Excluding currency swings, revenue surged 16.6 percent.

Sales in Asia-Pacific excluding Japan jumped 33.7 percent to USD90.5m in the first quarter of 2013. At constant currencies, Asia-Pacific’s sales climbed 32.8 percent.

Revenue in Japan came in down 11.7 percent to USD30.4m over the period compared with a year earlier – hit by currency variations. Stripping out the effect of exchange rates sales in the country rose by 2.8 percent.