- Crocs said it sees sales in 2021 climbing about 67% from 2020, more than it previously anticipated.
- For the fourth quarter, Crocs said it sees sales rising 42%, better than the 36.6% growth that analysts had predicted.
- Crocs CEO Andrew Rees said that, “2021 proved to be an exceptional year for the Crocs brand … amidst a challenging global supply chain environment.”
Crocs said Monday it sees sales in 2021 climbing about 67% from 2020, more than it previously anticipated.
Crocs had been calling for full-year sales to be up 62% to 65%. Analysts were looking for 65% year-over-year growth, according to Refinitiv estimates.
“2021 proved to be an exceptional year for the Crocs brand … amidst a challenging global supply chain environment,” said Crocs Chief Executive Andrew Rees in a statement
The stock was recently up less than 1% in premarket trading, having closed Friday down 2.3% at $125.70.
For the fourth quarter, Crocs said it sees sales rising 42%, better than the 36.6% growth that analysts had predicted.
And for 2022, the retailer reaffirmed expectations of revenue growth, excluding Hey Dude, to exceed 20%. Analysts are looking for a 32% increase from prior-year levels.
Crocs announced in December it planned to acquire the privately held footwear label Hey Dude for $2.5 billion in a cash-and-stock deal. The transaction is expected to close in the first quarter.
Read the full press release from Crocs here.
Source: Business - cnbc.com
