Crocs’ Financial Struggle: Over $332 Billion in Losses for First Half

Crocs enters into losses. The U.S. rubber footwear company has reported red numbers of $332.18 million in the first half of the year, a figure that is a far cry from that recorded in the same period last year, when it posted a profit of $381.36 million.

However, Crocs has sold 1.78% more than it did in the first half of 2024. Its turnover amounted to $2,086.7 million, more than $36 million higher. Gross profit, meanwhile, was 3.85% higher than in the first six months of last year, at $1,250.4 million.

The company blames the losses on selling, general and administrative expenses related to its Heydude brand. In fact, while Crocs had a turnover of $1,721.2 million in the first six months of the year (up 3.82%), Heydude had a turnover of $365.5 million, which was 6.83% less than in the same period of the previous year.

Crocs had a turnover of 3.82% more, up to $1,721.2 million, while Heydude remained at $365.5 million, 6.83% less 

By markets, North America is the only one that sold less in the first half of 2025. Its turnover fell by 5.27% to $825.64 million. The rest of the international market, on the other hand, increased its sales by 13.91% to $895.55 million. The wholesale channel accounted for 4.9% more turnover, to 941.48 million dollars, and retail grew by 2.52%, to $779.71 million.

Crocs CEO Andrew Rees celebrated the results, with “the highest gross profit in the company’s history” in a first quarter, according to a statement. Rees also puts the focus on the geopolitical environment, “uncertain and difficult to predict”. For this reason, the company is looking for savings, with cost reductions. “These measures will affect revenues in the short term, but will position the company to make a profit,“ he says.

In terms of forecasts, the company expects a decline in revenues for the third quarter of the year of approximately 11% compared to the previous quarter and up to 9% compared to the third quarter of 2024. In addition, Crocs expects a 170 basis point negative impact on its adjusted operating margin from tariffs.