Crocs, Inc. has raised its 2020 revenue guidance, and expects accelerated revenue growth of 20-25% for 2021.In a recent press release, the company noted their revenue expectations:
- Fourth quarter 2020 revenue to be between $407 and $410 million. This is up from the previous guidance range of 20% to 30% growth.
- Full year 2020 revenue to grow over 12%, up from recent guidance of approximately 5% to 7% growth.
- Accelerated full year 2021 revenue growth of 20% to 25% compared to 2020
“Amidst a global pandemic in 2020, we will deliver the strongest revenue in Crocs’ history. Our brand momentum is exceptional, and we anticipate another record year in 2021. We remain focused on continuing to deliver sustainable, profitable growth for years to come,” said Andrew Rees, Chief Executive Officer at Crocs, Inc.
Crocs’ fourth quarter of 2020 is expected to exceed expectations, with a potential increase of 55%. To end the fiscal year, their projected revenue is approximately $1.38 million, a record-setting number for the brand – increasing over 12% amid the pandemic.
Source: Crocs Press Release 1/11/21, Crocs Investor Presentation Jan. 2021
Photo Credit: Crocs Investor Presentation Jan. 2021
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About Crocs, Inc.
Crocs, Inc. (Nasdaq: CROX) is a world leader in innovative casual footwear for women, men, and children, combining comfort and style with a value that consumers know and love. The vast majority of shoes within Crocs’ collection contains Croslite™ material, a proprietary, molded footwear technology, delivering extraordinary comfort with each step.
In 2021, Crocs declares that expressing yourself and being comfortable are not mutually exclusive. To learn more about Crocs or our global Come As You Are™ campaign, please visit www.crocs.com or follow @Crocs on Facebook, Instagram and Twitter.
