Welcome to our dedicated page for Crocs news (Ticker: CROX), a resource for investors and traders seeking the latest updates and insights on Crocs stock.
Crocs, Inc. (NASDAQ: CROX), headquartered in Broomfield, Colorado, is a global leader in innovative casual footwear for all, combining comfort and style with an unparalleled value that consumers appreciate. Since its inception in 2002, Crocs has distinguished itself through its proprietary Croslite™ material, which makes its shoes soft, comfortable, lightweight, non-marking, and odor-resistant. This revolutionary technology is a hallmark of the brand's 300+ four-season footwear styles, ranging from the iconic clog to new sneakers, sandals, boots, and heels.
With annual revenues exceeding $1 billion, Crocs operates in diverse markets, including the Americas, Asia Pacific, and EMEA (Europe, Middle East, and Africa). The company has sold over 200 million pairs of shoes across more than 90 countries, making it a household name in the casual footwear industry.
Crocs is not just about footwear; it's about innovation and sustainability. The company recently launched a Retail Takeback Pilot Program to promote circularity by encouraging consumers to recycle their old Crocs shoes at designated retail stores. This program aligns with Crocs' commitment to environmental and social responsibility, partnering with organizations like Soles4Souls to give new life to donated shoes.
Financially, Crocs continues to perform robustly. For the third quarter of 2023, the company reported double-digit revenue growth, supported by strong full-price sales and industry-leading operating margins. The recent acquisition of the HEYDUDE brand further diversifies Crocs' product portfolio, contributing to its strong market presence.
Looking ahead, Crocs has shared optimistic projections for 2024, expecting revenue growth of 3% to 5% compared to 2023. The company also plans strategic reinvestments to sustain long-term growth and maintain its position as a leader in the casual footwear market. With a strong balance sheet, ongoing share repurchase programs, and a focus on innovation, Crocs is well-positioned for continued success.
Crocs Inc. reported Q3 2024 financial results with revenues increasing 1.6% to $1.06 billion. The Crocs Brand grew 7.4% to $858 million, while HEYDUDE Brand declined 17.4% to $204 million. Diluted EPS increased 17.1% to $3.36, and adjusted diluted EPS rose 10.8% to $3.60. Gross margin improved to 59.6% from 55.6%. The company adjusted its full-year 2024 outlook, now expecting revenue growth of approximately 3%, with Crocs Brand growing 8% but HEYDUDE Brand declining 14.5%. Adjusted diluted EPS guidance is set at $12.82 to $12.90.
BARK (NYSE: BARK) has partnered with Crocs (NASDAQ: CROX) to launch Pet Crocs, a -edition line of dog shoes matching human Crocs styles. The collection features glow-in-the-dark marbled Green Slime and Pink Dragon Fruit designs, made from breathable EVA foam with adjustable straps and grippy treads. Available in three sizes for dogs weighing 15-80 lbs, Pet Crocs can be obtained through BarkBox and Super Chewer subscriptions or purchased directly from Crocs.com and select retail stores.
Crocs, Inc. (NASDAQ: CROX) has announced it will host a conference call on Tuesday, October 29, 2024, at 8:30 am ET to discuss the results of its third quarter ended September 30, 2024. Interested parties can register for the call details at the Investor Relations section of the Crocs website, investors.crocs.com. The company will also provide a live webcast of the call, which will be available for replay through October 29, 2025 on the same site.
Crocs (NASDAQ: CROX) is celebrating Croctober with fan-inspired creations. The brand is launching Pet Crocs, designed in partnership with BARK, alongside matching Classic Lined Clogs for humans. These will be available globally on Croc Day, October 23, in two glow-in-the-dark colorways: Green Slime and Pink Dragon Fruit.
Additionally, Crocs is releasing a life-sized Crocs Costume resembling the iconic Classic Clog, complete with Jibbitz™ charms and available in left and right versions. This costume allows fans to become a living Crocs shoe, with arm openings in place of ventilation holes.
Anne Mehlman, Brand President of Crocs, emphasized the brand's commitment to celebrating fan creativity. Crocs is encouraging fans to share their Croctober experiences on social media using the hashtag #Croctober.
HEYDUDE announces a global partnership with singer-songwriter Jelly Roll, launching a -edition shoe design. The collaboration coincides with Jelly Roll's upcoming album 'Beautifully Broken', set for release on October 11th. The partnership aims to encourage self-acceptance and inspire positive change, aligning with HEYDUDE's 'movement of Dudes' initiative.
Key points:
- -edition HEYDUDE x Jelly Roll shoe available for $79.99
- Each purchase includes a vinyl copy of 'Beautifully Broken' album
- Partnership includes collaboration with Big Brothers Big Sisters mentoring organization
- Future plans involve new product releases and coordinated marketing efforts
The collaboration emphasizes HEYDUDE's focus on comfort and lightweight materials, while expanding its product portfolio beyond classic styles.
Jazwares and Crocs have partnered to launch a Squishmallows x Crocs collection, featuring three vibrant designs of Crocs footwear and Jibbitz charms inspired by the popular plush toys. The -edition collection includes the Caedia Classic Clog, Cam Cozzzy Sandal, and Squishmallows Multi Clog, available in full family sizing. An exclusive Jibbitz charm 5-pack is also part of the lineup.
The collaboration aims to combine Squishmallows' colorful personality with Crocs' comfortable styling, offering fans a new way to showcase their love for the brand. The collection is now available at Crocs retailers and on Crocs.com. This partnership marks a significant expansion for the Squishmallows brand, diversifying its product offerings and appealing to consumers of all ages.
Crocs (NASDAQ: CROX) has launched the Keep It Going Classic Clog, featuring 25% post-consumer recycled content from shoes collected through their 'Old Crocs. New Life' takeback program. This -edition clog, priced the same as the Classic Clog, showcases Crocs' commitment to circularity and sustainability. The brand recently achieved 25% bio-circular content across its entire Croslite material portfolio.
The new clog's Moon Dust color includes visible specs of recycled material, making each pair unique. Crocs continues to focus on reducing waste in manufacturing, distribution, and end-of-life processes to promote a more circular economy in footwear. The 'Old Crocs. New Life' program also donates gently used shoes to Soles4Souls, supporting communities worldwide.
Crocs (NASDAQ: CROX) has achieved a significant sustainability milestone by incorporating 25% bio-circular content in its proprietary Croslite material, which accounts for over 80% of the company's total materials used. This advancement applies across Crocs' entire product portfolio, including the iconic Classic Clog, at no additional cost to consumers.
The company's innovative approach to sustainability involves using plant-based byproducts, such as cooking oil from the food industry, that would otherwise become waste. This method has led to a 3% reduction in absolute emissions in Crocs' overall carbon footprint and a 6.1% reduction in emissions per pair of Classic Clogs compared to its 2021 baseline.
Crocs aims to reach 50% bio-circular content in its Croslite material by 2030 and achieve Net Zero emissions by 2040. The company's focus on sustainability and circularity demonstrates its commitment to creating a more comfortable world for all while reducing its environmental impact.
HEYDUDE, a popular footwear brand owned by Crocs, Inc. (Nasdaq: CROX), has announced a long-term global partnership with Sydney Sweeney as their new spokesperson. The Emmy-nominated actress and producer will lead HEYDUDE's new brand campaign focused on comfort and confidence. The campaign, featuring Sweeney as the 'Director of Dudes', aims to redefine what it means to be a 'Dude' - emphasizing comfort, style, and self-expression.
HEYDUDE, known for its lightweight and comfortable footwear, is rapidly growing its fanbase with over two million social media followers. The brand is expanding its portfolio beyond classic silhouettes to include new styles like the Wendy and Wally Slip, and Wendy and Wally COMF. This partnership with Sweeney is expected to further boost the brand's visibility and appeal to a wider audience.
Crocs, Inc. (NASDAQ: CROX) reported record second quarter results for 2024, with revenues increasing 3.6% to $1,112 million. The Crocs Brand saw strong growth, especially internationally, while HEYDUDE faced challenges. Key highlights include:
- Diluted EPS up 11.2% to $3.77
- Adjusted diluted EPS up 11.7% to $4.01
- Gross margin improved to 61.4%
- Crocs Brand revenues increased 9.7% to $914 million
- HEYDUDE Brand revenues decreased 17.5% to $198 million
The company raised its full-year 2024 earnings per share outlook and maintained revenue guidance. Crocs expects revenue growth of 3-5% for 2024 and adjusted diluted EPS of $12.45 to $12.90.
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