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


Crocs’s Chicago retail location in Chicago will sell footwear on July 22nd, 2021.

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CrocsMonday’s announcement by the company indicated that sales for 2021 will increase 67% over 2020. That is much more than was previously projected.

Crocs had called for sales in full year to rise 62% to 65 percent. According to Refinitiv estimates analysts expected 65% annual growth.

Andrew Rees (Crocs Chief Executive) stated that 2021 had been an “exceptional year” for Crocs brands in spite of the challenging global supply chain environment.

Stock was down less than 1% during premarket trading and closed Friday at $125.70, 2.3% lower.

Crocs reported that fourth-quarter sales rose 42%, which is better than analysts’ forecasts of 36.6%.

For 2022, however, Hey Dude was not included in the retailers revenue growth forecasts. Analysts expect a 32% rise in revenue compared to the prior year.

Crocs are announced December it planned to acquire the privately held footwear label Hey Dude for $2.5 billion in a cash-and-stock deal. This transaction should close by the end of the first quarter.

Crocs Press Release here.