Crocs Inc Stock Price, News & Analysis

Crocs, Inc. (NASDAQ: CROX) announced the hiring of Lori Foglia as Senior Vice President and Chief Product and Merchandising Officer, effective October 18, 2021. Foglia brings nearly 25 years of experience from Victoria's Secret and LBrands, where she led significant sales strategies. Crocs aims for a revenue goal of $5 billion by 2026, with a compound annual growth rate of over 17%. Additionally, Erik Olson has been promoted to Senior Vice President, Global Sourcing and Product Execution. This leadership change occurs as Crocs experiences unprecedented growth and sets a net-zero goal by 2030.

Crocs, Inc. (NASDAQ: CROX) has scheduled a conference call for October 21, 2021 at 8:30 a.m. ET to discuss its third quarter results ending on September 30, 2021. Interested parties can register for the call through the Crocs Investor Relations website. The live call will also be accessible for replay until October 21, 2022. Crocs emphasizes its commitment to comfort and style through its proprietary Croslite™ material, which is central to its innovative footwear offerings.

Crocs has launched Croctober 2021, a month-long celebration honoring its fans and the iconic Classics Collection. This year, the brand introduces digital and in-store activations that include a global partnership with Bitmoji, allowing users to customize avatars with a special collection of Crocs shoes and Jibbitz charms. The campaign highlights fan engagement through activities like Crocs Trivia and culminates on Croc Day (October 23) with an exclusive product reveal. Fans are encouraged to join the fun on social media using #Croctober21.

Crocs, Inc. (NASDAQ: CROX) announced its long-term growth strategy aiming for over $5 billion in revenue by 2026, driven by digital sales, market share in sandals, and growth in Asia. With a projected CAGR of over 17%, the company targets 26% operating margins and over $1 billion in annual free cash flow by 2026. The CEO highlighted the importance of sustainable practices, including introducing a new bio-based Croslite™ material and achieving net zero emissions by 2030. Additionally, Crocs plans to complete share repurchases totaling $1 billion in 2021.

Crocs, Inc. (CROX) announced progress towards its commitment for net zero emissions by 2030, introducing a bio-based Croslite™ material to reduce carbon footprints. Currently, Crocs shoes emit 3.94 kg CO2 per pair, with an ambitious target of cutting emissions by 50% by 2030. Partnering with Dow®, Crocs aims to create sustainable footwear using ECOLIBRIUM™ Technology, making it the first brand to utilize this method. Classic silhouettes will feature this new material starting in early 2022, further supporting Crocs' sustainability goals.

Crocs, Inc. (Nasdaq: CROX) announced the pricing of $350 million in 4.125% senior notes due 2031, priced at 100% of their principal amount. The offering is expected to close around August 10, 2021. Proceeds will fund stock repurchases and general corporate needs, including working capital and potential debt repayment. The notes will not be registered under the Securities Act, limiting their offering to qualified institutional buyers and non-U.S. persons. There are risks associated with the offering, including market conditions and changes in consumer behavior.

Crocs, Inc. (Nasdaq: CROX) announced a $350 million offering of senior notes due 2031, which will be guaranteed by certain subsidiaries. The proceeds will primarily fund stock repurchases and general corporate purposes, including working capital and debt repayment. The offering is exempt from registration and is targeted at qualified institutional buyers and non-U.S. persons. Investors should note the associated risks, including market conditions and competition. This offering is part of Crocs' strategy to enhance shareholder value and manage its capital effectively.

Crocs, Inc. (NASDAQ: CROX) has launched a new collection of socks called Crocs Socks, designed to enhance personal style for fans of Crocs footwear. The collection features 23 different designs, inspired by Crocs' Classic Collection, available in various pack formats, including 3-Packs and 3-Of-A-Kind options. Priced at $14.99 and $24.99, the socks are made with high-quality materials to ensure durability and comfort. This product line follows a multi-year partnership with FutureStitch, a textile company focused on innovative design and sustainability.