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CROCS Inc. Q1 2008 Earnings Call Transcript

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2008-05-07 17:25:11.0

Tags: Crocs Inc.

Question-and-Answer Session

Operator

(Operator instructions). Our first question in the afternoon will go to Jeff Klinefelter at Piper Jaffray. Please go ahead.

Jeff Klinefelter - Piper Jaffray

Yeah. Hey guys, couple of questions for you. Hitting the domestic market Ron, could you. If I missed the beginning I apologize, but give average selling prices, the number of units sold during the quarter?

Ron Snyder

In the domestic market you are asking?

Jeff Klinefelter - Piper Jaffray

Well you just give in total and then I have a follow up for the domestic market?

Ron Snyder

Let's get that, Jeff.

Jeff Klinefelter - Piper Jaffray

Okay. While you are looking for that, I am also wondering if you had -- go ahead.

Ron Snyder

The average selling price is $6.33. Sorry, $16.33 and we sold 11.1 million units.

Jeff Klinefelter - Piper Jaffray

Okay. Children's, Men's, Women's, do you have that split?

Ron Snyder

Give us a second. Jeff, will get back.

Jeff Klinefelter - Piper Jaffray

Okay. Fine. As you are looking --

Ron Snyder

Men's and women's is still pretty tough too --

Jeff Klinefelter - Piper Jaffray

Yeah, good.

Ron Snyder

Find an exact number as many of our shoes are unisex. So we still feel that it is about in the 65, 35 level. We are seeing nice sell through within some of the newer women's models and like we said we are having good sell through with men now approaching our brand. They are buying the Yukon, the Santa Cruz are just coming out. Of course some of our flip flops are very popular with men as well, as well as the classic crocs style. With kids it is still in the high 20% range.

Jeff Klinefelter - Piper Jaffray

Okay. So just to put it in perspective, the domestic market grows 12% year-over-year, doors are up, it looks like what about 30% year-over-year. Could you help us put that in context? Is it doors growing faster that our smaller doors like the footlocker doors and that is taken down the overall sales growth or how should we think about the potential delusion here that you would appear to be having in the domestic market in terms of productivity?

Ron Snyder

Yeah, we have added some smaller doors and I would say we are still relatively early in the season, so some of the smaller doors would not be coming on quite as quickly. Just in a difficult economic environment, we have had some dilution in our doors. However, in our US doors, however we feel very confident that going forward the doors in the stores are very excited about. The new products that they are seeing, they are just getting them out on the shelf's now, really late March, early April and even into May in some cases. So we are expecting good things in there.

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