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. (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.
Crocs, Inc. (NASDAQ: CROX) has appointed Emma Minto as the new senior vice president and general manager for the Americas region. Minto, previously with Nike for 16 years, will bring extensive leadership experience to the role. The company is seeing significant growth, projecting a record revenue of approximately $1.38 billion for 2020 and aiming for a growth of 20% to 25% in 2021. Minto's strategic background aligns well with Crocs' ongoing momentum, making her a valuable addition to the team.
Crocs, Inc. (NASDAQ: CROX) announced an increase in its 2020 revenue guidance, projecting a record revenue between $1.381 and $1.384 billion. The company expects fourth quarter 2020 revenue to be between $407 and $410 million, marking a 55% increase. For 2021, Crocs anticipates revenue growth of 20% to 25%, driven by strong brand momentum. CEO Andrew Rees expressed confidence in achieving the highest revenue in the company's history amidst the pandemic.
Crocs, Inc. (NASDAQ: CROX), a leader in casual footwear, will present at the ICR 2021 Conference on January 11, 2021, at 9:30 am ET. The presentation can be accessed live via the investors.crocs.com website, with a replay available afterwards. Crocs is known for its innovative use of Croslite™ material, which enhances comfort. The company promotes self-expression through its Come As You Are™ campaign. For more details, visit www.crocs.com.
Crocs, Inc. (NASDAQ: CROX) has announced its fifth collaboration with Post Malone, unveiling the Post Malone x Crocs Duet Max Clog II available in pink and black. Each clog features a chunky outsole and adjustable straps, priced at $59.99, launching on December 8. Additionally, exclusive Jibbitz™ charm packs will be sold for $11.99. Crocs plans to surprise 5,000 fans globally with free pairs in cities including New York, Toronto, and Sydney, promoting comfort and joy during challenging times. This partnership continues to enhance Crocs' brand identity and consumer engagement.
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