Crocs sees fourth-quarter gross sales up 42%, capping an ‘distinctive 12 months’

Crocs sees fourth-quarter sales up 42%, capping an 'exceptional year'

Footwear is obtainable on the market at a Crocs retail retailer on July 22, 2021 in Chicago, Illinois.

Scott Olson | Getty Pictures

Crocs mentioned Monday it sees gross sales in 2021 climbing about 67% from 2020, greater than it beforehand anticipated.

Crocs had been calling for full-year gross sales to be up 62% to 65%. Analysts had been searching for 65% year-over-year development, in accordance with Refinitiv estimates.

“2021 proved to be an distinctive 12 months for the Crocs model … amidst a difficult international provide chain atmosphere,” mentioned Crocs Chief Govt Andrew Rees in an announcement

The inventory was just lately falling 1.6% in premarket buying and selling, having closed Friday down 2.3% at $125.70.

For the fourth quarter, Crocs mentioned it sees gross sales rising 42%, higher than the 36.6% development that analysts had predicted.

The retailer did not present an outlook for fourth-quarter earnings. Analysts had been projecting Crocs would earn $1.39 a share on common.

And for 2022, Crocs reaffirmed expectations of income development, excluding Hey Dude, to exceed 20%. Analysts are searching for a 32% improve from prior-year ranges.

Crocs introduced in December it deliberate to amass the privately held footwear label Hey Dude for $2.5 billion in a cash-and-stock deal. The transaction is anticipated to shut within the first quarter.

Learn the total press launch from Crocs here.

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