) recently promoted Scott Crutchfield to the position of the chief
operating officer (COO). This position has been vacant since 2010,
when Crocs' earlier chief operating officer and executive vice
president John McCarvel was promoted to the position of president
and chief executive officer in March 2010.
In February, 2006, Crutchfield joined the organization as the Vice
President for World Wide Operations. Later in May 2010, he was
appointed as senior vice president of World Wide Operations.
In his new role, Crutchfield will be in charge of the company's
regular operations as well as all operational issues including
worldwide manufacturing, distribution, logistics, supply chain
management and information technology.
Crutchfield's has donned many important roles in his career. He was
the senior director of U.S and South America operations at
Jabil Circuit, Inc.
) - a renowned electronic manufacturing services company, from 2004
to 2006. Prior to that, he held senior positions at Dovatron
International, a subsidiary of DII Group, and Square D, a
subsidiary of Schneider Electric.
During his six-year career at Crocs, Crutchfield has been able to
set a standard for all the aspects of the company's overall global
operations. Thus, management believes that Crutchfield's expertise
would help boost business making him an ideal pick for the post of
In the recent second quarter 2012, the Niwot, Colorado-based
company posted an earnings of 68 cents per share, breezing past the
Zacks Consensus Estimate of 63 cents and the year-ago quarter
earnings of 61 cents per share.
Revenue also climbed 12.0% year over year to $330.9 million and
marks the highest quarterly revenue level. The upside in revenue
was driven by strong sales growth in Asia (up 20.5%) and America
(up 10.9%), partially offset by soft business in Europe (down 5.2%)
owing to the challenging macroeconomic conditions. Sales grew 7.3%
at wholesale and 22.6% at Retail. Gross profit enhanced 15.2% to
For the third quarter of 2012, the company expects earnings in the
range of 42 to 44 cents per share and revenue to be $300 million.
For 2012, the company which sells its footwear in more than 90
countries anticipates revenue growth of about 14% and earnings in
the range of $1.50 to $1.54 per share.
Thus, in the current scenario, the company is on a high and we
believe it will continue to flourish under the guidance of the new
Crocs currently retains a Zacks #2 Rank, implying a short-term
Strong Buy rating on the stock. Our long-term recommendation for
the stock remains Neutral.
CROCS INC (CROX): Free Stock Analysis Report
JABIL CIRCUIT (JBL): Free Stock Analysis Report
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