HomeTrading NewsCrocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

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Footwear is offered for sale at a Crocs retail store on July 22, 2021 in Chicago, Illinois.
Scott Olson | Getty Images

Crocs said Monday it sees sales in 2021 climbing about 67% from 2020, more than it previously anticipated.

Crocs had been calling for full-year sales to be up 62% to 65%. Analysts were looking for 65% year-over-year growth, according to Refinitiv estimates.

“2021 proved to be an exceptional year for the Crocs brand … amidst a challenging global supply chain environment,” said Crocs Chief Executive Andrew Rees in a statement

The stock was recently up less than 1% in premarket trading, having closed Friday down 2.3% at $125.70.

For the fourth quarter, Crocs said it sees sales rising 42%, better than the 36.6% growth that analysts had predicted.

And for 2022, the retailer reaffirmed expectations of revenue growth, excluding Hey Dude, to exceed 20%. Analysts are looking for a 32% increase from prior-year levels.

Crocs announced in December it planned to acquire the privately held footwear label Hey Dude for $2.5 billion in a cash-and-stock deal. The transaction is expected to close in the first quarter.

Read the full press release from Crocs here.

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