Crocs Reports Lower Q4 2025 Earnings as HEYDUDE Sales Decline

Crocs, Inc. released its financial results for the fourth quarter and full year of 2025, providing updated figures for both its Crocs and HEYDUDE brands. The announcement included details on revenue, earnings, and operational changes for the period ending December 2025.

According to the company, consolidated revenues for the fourth quarter reached $958 million, representing a 3.2% decrease compared to the same period in the previous year. The company also reported a drop in net income, with diluted earnings per share falling 68.1% year-over-year to $2.03.

Adjusted diluted earnings per share for the quarter were $2.29, which is 9.1% lower than the previous year’s fourth quarter. The company stated that operating cash flow for 2025 was about $700 million, which supported share repurchases and debt repayment activities.

Sales performance varied between the company’s two main brands. Crocs brand sales increased by 0.8% year-over-year to $768 million, while HEYDUDE brand sales declined 16.9% to $189 million. Within the HEYDUDE brand, wholesale revenues dropped 40.5% to $56 million, but direct-to-consumer revenues remained steady at $133 million.

What the numbers show

• Q4 2025 diluted EPS fell 68.1% to $2.03
• HEYDUDE brand sales dropped 16.9% to $189 million
• Crocs brand sales rose 0.8% to $768 million
• Consolidated Q4 2025 revenue was $958 million, down 3.2%

Within the Crocs brand, direct-to-consumer revenues increased by 6.1% to $475 million, while wholesale revenues decreased by 6.7% to $294 million. The company identified $100 million in cost savings for 2026, aimed at improving efficiency while continuing to invest in its brands.

During 2025, Crocs, Inc. used its operating cash flow to repurchase approximately 10% of its outstanding shares and to repay $128 million in debt. The company announced these actions as part of its financial strategy for the year.

The company’s announcement on February 12, 2026, also included its outlook for the coming year. Crocs, Inc. stated that it would focus on cost management and brand investment as it moves into 2026.

HEYDUDE’s performance in the quarter reflected a sharp decline in wholesale revenues, while its direct-to-consumer segment remained unchanged. The Crocs brand saw growth in direct sales, but experienced a decrease in wholesale revenues over the same period.

* This article is based on publicly available information at the time of writing.