Latest news with #CrocsInc
Yahoo
3 days ago
- Business
- Yahoo
Crocs Updates Sustainability Progress In New Report
Crocs Inc. details in a new report how last year's initiatives are moving the company further along in its sustainability efforts. 'Our 'Purpose' strategy is a catalyst for stronger business outcomes and a more comfortable world for all,' Crocs' chief executive officer Andrew Rees said in a statement. 'In embracing this shared understanding, our global teams have approached Purpose with a spirit of collaboration and a focus on innovation. Embedding impact into the way we operate isn't just about doing good — it's also about creating a resilient, future-ready business.' More from WWD Do Crocs Shrink in Heat? The Issue Is at the Center of a New Lawsuit EXCLUSIVE: Stella McCartney, David Attenborough to Be Honored by New Environmental Start-up The Nat Report Findings Highlight Opportunities for Brands to Unlock the Next Phase of Value in Resale With DPPs Among the highlights, Crocs said in its report that it is relying on 'raw materials innovation' to reduce the carbon footprint of its popular Classic Clog by 50 percent by 2030. And it is looking at ways to achieve net zero by 2040. 'We are identifying opportunities for meaningful emissions reductions across our operations, in our raw materials, and through our transportation and distribution,' the report noted. The shoe firm said it achieved 25 percent bio-circular content in its proprietary Croslite material, which represents more than 80 percent of the firm's total materials across its portfolio that includes its core Classic Clog. 'The increased use of bio-circular content in Croslite material lowered emissions per pair of Crocs Classic Clogs by nearly 5 percent in 2024 compared to 2023 and approximately 10 percent from its 2021 baseline year,' the company said regarding the improvement in its emissions footprint. For Crocs shoes, its consumer take-back program it launched in 2023 called 'Old Crocs. New Life.' was expanded from a pilot to all of its 183 doors in the continental U.S. and Canada. It added a no-cost mail-in option in 2024. The program was again expanded this month to all Crocs-owned stores across Europe. Furthering the firm's circularity strategy and in responses to 'strong consumer engagement,' Crocs initiated a limited edition 'Keep It Going' Classic Clog made from shoes that were taken back. The clog uses a 25 percent post-consumer recycled content, and it includes design features such as visible specs of recycled shred and a customer back-strap and rivet design to convey its circularity story. Crocs is also said it worked to have all factories and suppliers across its Hey Dude and Crocs brands complete social compliance audits for 100 percent of Tier 1 factories by 2023 and 100 percent of Tier 2 suppliers by 2024. 'Our oversight structures help us gather insight into the aspects of our supply chain that we don't directly control,' the company said in its report. Last year, Crocs also introduced 'Step Up to Greatness,' a community impact program to help young adults between ages 15 to 29 to gain skills and access opportunities that can help their communities. Crocs committed to supporting more than 3 million people through partnerships with nonprofits such as UNICEF's social innovation accelerator Upshift and the Big Brothers Big Sisters youth mentoring program. The company's Hey Dude and Crocs stores in the U.S. also provide consumers with the option of giving to the youth mentoring organization at the point of sale and on Crocs' Purpose strategy — focused on opportunities to create sustained, shared value for its business, people and planet — continues to be underpinned by its commitment to responsibility and strong corporate governance. 'We have a lot of work ahead of use, and I am confident in our teams' collective efforts to create a more comfortable world for all,' Crocs' chief sustainability officer Deanna Bratter said. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Do Crocs Shrink in Heat? The Issue Is at the Center of a New Lawsuit
Do Croc shoes shrink in heat and under direct sunlight, and did the company know about any deficiencies? Those are some of the questions that Crocs Inc. will have to answer in a federal district court lawsuit filed in California in San Francisco. It's one that also is expected to seek class-action status. More from WWD This Kaia Gerber-Approved On Sneaker Style Is Just What You Need to Master the Season's Pastel-Purple Shoe Trend The 13 Best White Sneakers for Women That Go With Everything in Your Wardrobe Shoe Executive Richard Kirschenbaum and G-III Trade Legal Barbs The case is already before a judge as the complaint was filed by four plaintiffs last December. They are seeking class-action status, but due to a technicality in the start of the purported class-action period, U.S. District Judge Trina Thompson gave them the ability to amend the case with the appropriate timing adjustment. The lawsuit cited some legal claims that were dismissed by Thompson, and the plaintiffs were told that while they could refile seeking class-action status, they basically can't add new causes of action to the suit without court approval. That ruling on Friday also stuck down one component of the plaintiffs attempt to sue for fraud because the original complaint wasn't specific enough on which marketing material relied upon misrepresented the shoes or where they saw them. She did allow the allegation of duty to disclose to proceed, noting that Crocs 'allegedly received thousands of complaints regarding the shrinkage problems and is aware of customer complaints posted on Defendant's website.' The judge also sided with Crocs and dismissed the charge that the company violated an express warranty, but that was because there was no allegation that the shoes were defective at the time they were bought. According to the suit, the plaintiffs charged that Crocs failed to alert consumers that its shoes are constructed of a material that shrinks when exposed to ordinary heat and/or direct sunlight. That shrinkage, or warping, resulted in the shoes no longer fitting the purchaser's feet. Calling that a design flaw, the plaintiffs alleged that the shoes are unsuitable for ordinary use. The majority of Crocs shoes use a proprietary resin material called Croslite. Crocs still has to answer questions about whether it knew of the alleged defect under implied warranty claims. Friday's order said there were enough allegations to 'sufficiently allege' that the shoes lacked a basic degree of fitness, as well as a minimum level of quality. 'Crocs is pleased with the Court ruling in that plaintiffs' fraud-based claims and many of its arguments related to Crocs' warranties and various class allegations were dismissed. These claims were fundamental to plaintiffs' arguments and Crocs looks forward to prevailing on the remaining claims through its summary judgment motion, should that be required,' a Crocs Inc. spokesperson said. 'Crocs stands by the quality and safety of its products and will continue to aggressively defend frivolous and unsubstantiated claims made by plaintiffs' counsel.' The plaintiffs have until July 9 to refile an amended complaint, and failure to do so will result in the dismissal of the case with prejudice. And even presuming the timely filing of the amended paperwork, the plaintiffs still need to prove their allegations at trial. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos]
Fashion United
03-06-2025
- Business
- Fashion United
Crocs launches return service in Europe
US footwear brand Crocs Inc. now allows customers in Europe to return worn shoes. Its take-back programme, 'Old Crocs, New Life', which was already established in the US, launched on Monday in Austria, France, Germany, the Netherlands, and the UK. In these countries, customers can now return their used Crocs to participating stores and outlets. In return, they will receive a one-time discount of 15 percent on their next purchase in stores and online. The return service is "part of Crocs' broader commitment to driving a circular economy in the footwear industry", the company explained in a statement. In Europe, Dutch firm Fast Feet Grinded will now be involved as a recycling partner in the reuse of the returned shoes. "Together, we are working to reuse used materials in high-quality ways while setting new standards for sustainable footwear production," Crocs explained. In the US, the company said it already has models with "25 percent recycled post-consumer material" in its range. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Fashion Network
13-05-2025
- Business
- Fashion Network
Crocs posts strong Q1 2025 results, withdraws full-year outlook
Crocs Inc. announced on Thursday a revenue increase of 1.4% in its first quarter, on the back of an increase in sales at its flagship brand. The Broomfield, Colorado-based footwear firm said revenues for the first quarter ended March 31, reached $937 million. Direct-to-consumer revenues grew 2.3%, while wholesale revenues contracted 1.6%. By brand, Crocs revenues increased 2.4% to $762 million, with both DTC and wholesale revenues up 1.1% to $285 million and 3.2% to $477 million, respectively. Revenue was partially offset by Heydude brand sales, the casual footwear brand acquired by Crocs in 2022, where revenues decreased 9.8% to $176 million. DTC revenues increased 8.3% to $65 million, while wholesale revenues decreased 17.9% to $111 million. "We are incredibly proud of our better-than-expected first quarter performance despite what has been an increasingly volatile macroeconomic backdrop since the onset of the year. Both our Crocs and Heydude brands contributed to the outperformance with gross margins, operating margins, adjusted earnings per share, and cash flow coming in above plan," said Andrew Rees, chief executive officer, Crocs. The company withdrew its previous guidance issued in February, due to macroeconomic uncertainties stemming from global trade policies. No revised full-year outlook has been provided. "While we are pleased by the performance of our overall business in April, the new global trade environment as well as business and consumer uncertainty, has made it challenging to predict how consumers may respond in the future. Amid this heightened operating backdrop, we are withdrawing our guidance for 2025,' added Rees.
Fashion Network
13-05-2025
- Business
- Fashion Network
Crocs posts strong Q1 2025 results, withdraws full-year outlook
Crocs Inc. announced on Thursday a revenue increase of 1.4% in its first quarter, on the back of an increase in sales at its flagship brand. The Broomfield, Colorado-based footwear firm said revenues for the first quarter ended March 31, reached $937 million. Direct-to-consumer revenues grew 2.3%, while wholesale revenues contracted 1.6%. By brand, Crocs revenues increased 2.4% to $762 million, with both DTC and wholesale revenues up 1.1% to $285 million and 3.2% to $477 million, respectively. Revenue was partially offset by Heydude brand sales, the casual footwear brand acquired by Crocs in 2022, where revenues decreased 9.8% to $176 million. DTC revenues increased 8.3% to $65 million, while wholesale revenues decreased 17.9% to $111 million. "We are incredibly proud of our better-than-expected first quarter performance despite what has been an increasingly volatile macroeconomic backdrop since the onset of the year. Both our Crocs and Heydude brands contributed to the outperformance with gross margins, operating margins, adjusted earnings per share, and cash flow coming in above plan," said Andrew Rees, chief executive officer, Crocs. The company withdrew its previous guidance issued in February, due to macroeconomic uncertainties stemming from global trade policies. No revised full-year outlook has been provided. "While we are pleased by the performance of our overall business in April, the new global trade environment as well as business and consumer uncertainty, has made it challenging to predict how consumers may respond in the future. Amid this heightened operating backdrop, we are withdrawing our guidance for 2025,' added Rees.
