Sneakers is obtainable on the market at a Crocs retail retailer on July 22, 2021 in Chicago, Illinois.
Scott Olson | Getty Photographs
Crocs mentioned Monday it sees gross sales in 2021 mountain climbing about 67% from 2020, greater than it in the past expected.
Crocs have been calling for full-year gross sales to be up 62% to 65%. Analysts had been on the lookout for 65% year-over-year expansion, in keeping with Refinitiv estimates.
“2021 proved to be a phenomenal yr for the Crocs logo … amidst a difficult world provide chain atmosphere,” mentioned Crocs Leader Govt Andrew Rees in a commentary
The inventory used to be not too long ago falling greater than 4% in early buying and selling, having closed Friday down 2.3% at $125.70.
For the fourth quarter, Crocs mentioned it sees gross sales emerging 42%, higher than the 36.6% expansion that analysts had predicted.
The store did not supply an outlook for fourth-quarter profits. Analysts had been projecting Crocs would earn $1.39 a percentage on moderate.
And for 2022, Crocs reaffirmed expectancies for earnings expansion, with the exception of Howdy Dude, to exceed 20%. Analysts are on the lookout for a 32% building up from prior-year ranges.
Crocs introduced in December it deliberate to obtain privately held shoes label Howdy Dude for $2.5 billion in a cash-and-stock deal. The transaction is predicted to near within the first quarter.
Crocs is scheduled to give to analysts and traders on Tuesday on the ICR convention, which is being held just about this yr.
Learn the whole press unencumber from Crocs right here.
