Footwear is obtainable on the market at a Crocs retail retailer on July 22, 2021 in Chicago, Illinois.
Scott Olson | Getty Photos
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 have been searching for 65% year-over-year development, in accordance with Refinitiv estimates.
“2021 proved to be an distinctive yr for the Crocs model … amidst a difficult world provide chain surroundings,” mentioned Crocs Chief Government Andrew Rees in an announcement
The inventory was just lately falling greater than 5% in afternoon 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 have been projecting Crocs would earn $1.39 a share on common.
And for 2022, Crocs reaffirmed expectations for income development, excluding Hey Dude, to exceed 20%. Analysts are searching for a 32% enhance from prior-year ranges.
Crocs introduced in December it deliberate to accumulate 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.
Crocs is scheduled to current to analysts and traders on Tuesday on the ICR convention, which is being held nearly this yr.
Learn the total press launch from Crocs here.