Crocs says it’s seeing “exceptional” demand for its shoes — especially internationally and via digital channels — as the company celebrates a third straight year of record-setting revenues.
On Thursday, Crocs reported $3.6 billion in revenue for 2022, a 54% jump from 2021. Its fourth-quarter revenue totaled $945.2 million, an increase of 61.1% from the same period a year before. Looking forward to 2023, Crocs expects “another strong year of robust revenue growth” and a record number of product introductions, CEO Andrew Rees said on the earnings call.
While Crocs has been around since 2002, it’s enjoyed tremendous growth over the last couple of years as more people have invested in comfortable and casual footwear. Its sales ballooned to record levels in 2020, and again in 2021. In late 2021, Crocs acquired Hey Dude Shoes for $2.5 billion, vastly expanding its offerings and customer base. The deal, along with Crocs’s many playful collaborations, has helped the company stay on solid footing with shoppers, even as formal footwear has come back into play.
Commentaires