Crocs Inc Stock Price, News & Analysis

Crocs, Inc. (CROX) reported impressive first quarter 2021 results, achieving revenues of $460.1 million, a 63.6% increase year-over-year, driven by a 93.3% boost in direct-to-consumer sales. The company anticipates a revenue growth of 40% to 50% for the full year. Operating income surged to $124.7 million with a significant expansion in operating margins. Digital sales represented 32.3% of total revenue, showcasing strong consumer demand. With a solid liquidity position of $499.7 million in available borrowing, Crocs remains committed to supporting its growth strategies through capital investments and share repurchases.

Crocs, Inc. (NASDAQ: CROX) will host a conference call on April 27, 2021, at 8:30 a.m. ET, to discuss its first-quarter results for the period ending March 31, 2021. Investors can register for the call via the Investor Relations section of the Crocs website. The company is a leader in casual footwear, utilizing its proprietary Croslite™ material for enhanced comfort. The call will also be available for replay until April 27, 2022.

On March 11, 2021, Crocs (NASDAQ: CROX) announced a new collaboration with Justin Bieber, introducing the Crocs x Justin Bieber with drew house Classic Clog 2. This unique bundle includes a lavender clog and drew house-branded socks, set for release on March 15 in the U.S. and China, followed by a global launch on March 16. Bieber emphasized the collaboration's comfort and style, aligning with Crocs’ ethos. Previous collaborations sold out quickly, indicating strong consumer interest. The Classic Clog 2 will retail for $69.99, available on Crocs’ e-commerce platforms and select stores.

Crocs, Inc. (CROX) announced on March 9, 2021, the pricing of a $350 million offering of 4.250% senior notes due 2029. This offering saw an upsizing of $50 million and is set to close on or around March 12, 2021. The proceeds will be used to repay $180 million in outstanding debt and for general corporate purposes, including working capital and potential acquisitions. The notes will be offered for sale to qualified institutional buyers and non-U.S. persons, and they will not be registered under the Securities Act.

Crocs, Inc. (NASDAQ: CROX) announced its participation in the UBS Global Consumer and Retail Virtual Conference scheduled for March 10, 2021, at 3:00 pm ET. The event will be accessible via a live broadcast on the company’s Investor Relations website, with a replay available for thirty days. Crocs is recognized for its innovative casual footwear, primarily made from Croslite™ material, which ensures comfort and style. Further details about Crocs and its Come As You Are™ campaign can be found on their website.

Crocs, Inc. (Nasdaq: CROX) announced a private offering of $300 million in senior notes due 2029, subject to market conditions. The company plans to use the net proceeds to repay up to $180 million in outstanding borrowings under its revolving credit facility, with the remainder allocated for general corporate purposes like working capital, capital expenditures, stock repurchases, and acquisitions. The offering is exempt from registration and will be made available to qualified institutional buyers and non-U.S. persons.

Crocs reported record financial results for Q4 and the full year 2020, with revenues reaching $1.4 billion, a 12.6% increase year-over-year. Q4 revenues surged to $411.5 million, marking a 56.5% growth, driven by a 92% rise in e-commerce sales. Adjusted diluted EPS for the year doubled to $3.22. The company emphasizes strong brand momentum and projected revenue growth of 20-25% in 2021. SG&A expenses as a percentage of revenue improved significantly. Crocs continues to invest in digital channels, China, and supply chain enhancements to sustain growth.

Crocs, Inc. (NASDAQ: CROX) has scheduled a conference call on February 23, 2021, at 8:30 a.m. ET to discuss its fourth quarter results for the period ended December 31, 2020. Interested investors can register for the call through the Investor Relations section of the Crocs website. The event will also be available for replay until February 23, 2022. Crocs continues to be a leader in innovative casual footwear, known for its comfort and style, primarily utilizing its proprietary Croslite™ material.