Crocs Stock Dips Slightly Despite Reporting Record Revenues for Fiscal 2021

Crocs, Inc. stock fell 5 points in mid-morning trading on Wednesday despite reporting record revenue for the full fiscal year of 2021. The footwear giant reported revenues in the fourth quarter of $586.6 million, an increase of 42.6% from the same period last year. Revenues for the full fiscal year of 2021 were $2.3 billion, an increase of 66.9%, or 65.2% on a constant currency basis over 2020. “A strong 2021 holiday season completed a very successful year for our brand. We achieved incredible results with record revenues of $2.3 billion, 67% revenue growth and industry-leading 30% operating margin,” said Andrew Rees, CEO of Crocs in a statement. “Our fourth straight year of revenue growth was fueled by continued strong consumer demand for the Crocs brand globally. We are excited about our sustainable growth trajectory for both the Crocs and Hey Dude brands and are confident in our plan to grow to $6 billion in revenues by 2026.” In the company’s earnings call on Wednesday, Rees said he is confident about Crocs’ strategy for 2022 and beyond. “We achieved strong growth in both our direct-to-consumer and wholesale channels with DTC revenues up 64% and wholesale revenues up 69% globally,” he said. “Global DTC

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