Shares of Crocs, Inc. climbed $9.55, or 14.2 percent, to $76.60 on Thursday after the parent of Crocs and Heydude reported third-quarter results that handily exceeded Wall Street expectations while raising its outlook for the year. Andrew Rees, CEO, said on an analyst call, ““Consumer demand for both the Crocs and Heydude brands is exceptional.”
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Crocs Lifts Guidance As Q3 Results Beat Plan
Crocs Inc. raised its outlook for the year after reporting third-quarter earnings and sales topped guidance. Sales in the quarter jumped 57.4 percent with Crocs brand expanding 14.3 and Heydude surging 87 percent.
Crocs’ Chief Operating And Transformation Officer Resigns
Crocs, Inc., in a regulatory filing, said Elaine Boltz, its executive vice president and chief operating and transformation officer, resigned her position effective October 14.
EXEC: Crocs Still Expected To Reach $5 Billion By 2026
Speaking at the Piper Sandler Growth Frontiers Conference, Crocs, Inc., CEO Andrew Rees said that despite the company’s recently reducing expectations for the current year due to macroeconomic conditions, it is still on the path to reaching revenue of $5 billion by 2026.
EXEC: Crocs Lowers Sales Growth Targets For Crocs Brand
Shares of Crocs, Inc. lost 11 percent of their value on Thursday after the cushy-shoe maker slightly lowered its sales and earnings guidance for the year. The company now expects sales for the Crocs brand to grow approximately 14 percent to 17 percent in 2022 or 10 percent to 13 percent on a currency-neutral basis.
Crocs’ Q2 Tops Guidance
Crocs, Inc. reported sales and earnings came in above guidance in the second quarter ended June 30 as Crocs brand sales grew 19.4 percent on a constant-currency basis. The footwear maker still slightly lowered its sales and earnings guidance for the year.
Crocs Secures Judgment Of Infringement Against USA Dawgs And Double Diamond Distribution
Crocs, Inc. announced a judgment of infringement against USA Dawgs and Double Diamond Distribution due to both companies’ alleged sales of copycat Crocs shoes. In addition, Crocs also obtained $6 million and $55,000 in damages, respectively, against the companies.
Crocs x MCM Launch Limited-Edition Collab
Crocs collaborated with German luxury fashion house MCM on a limited edition collection featuring two footwear options. The first features a Visetos “belt bag” bracelet that is interchangeable and can also be worn as a fashion accessory. Along with the brand’s notable hardware, the shoe includes 24-carat gold plated Jibbitz charms. The second, features a […]
Crocs x MCM Launch Limited-Edition Collab
Crocs collaborated with German luxury fashion house MCM on a limited edition collection featuring two footwear options. The first features a Visetos “belt bag” bracelet that is interchangeable and can also be worn as a fashion accessory. Along with the brand’s notable hardware, the shoe includes 24-carat gold plated Jibbitz charms. The second, features a […]
EXEC: Crocs Hikes Guidance On Hey Dude’s Outperformance
Crocs, Inc. raised its guidance for earnings and sales for the year as the Crocs brand’s first-quarter results came in slightly ahead of guidance and Hey Dude’s came in well ahead with strong momentum behind the recently-acquired brand. Andrew Rees, CEO, told analysts, “While we have only owned Hey Dude for six weeks during the quarter, we are rapidly assimilating it into the company, and it’s very clear that demand for the brand is exceptional.”
Crocs Reports First Quarter Revenue Growth Of 44 percent
Crocs, Inc. reported that first-quarter revenues jumped 43.5 percent due to the Hey Dude brand acquisition and 18.5 percent growth for the Crocs brand. The company raised its outlook for the year.
Crocs Appoints VP And Global Head Of Sustainability
Crocs, Inc. announced that Deanna Bratter joined the business as vice president, global head of sustainability in a newly created role.
Crocs Announces Promotions
Crocs promoted Shannon Sisler to executive vice president and chief people officer, Dan Marques to senior vice president, global digital commerce, and Frank Smigelski to senior vice president, distribution and logistics.
Crocs Pauses Business Operations And Importation Of Goods In Russia
Crocs, Inc. announced it paused its direct-to-consumer business, inclusive of e-commerce and retail operations, in Russia. The company has also paused the importation of goods into the country.
Crocs Completes Acquisition Of HeyDude
Crocs, Inc. announced it has completed its previously announced acquisition of HeyDude, a privately-owned casual footwear brand. The closing is effective February 17, 2022.
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