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. (NASDAQ: CROX) will present at the ICR 2022 Conference on January 11, 2022, at 3:00 pm ET. Investors can watch the live broadcast through the Investor Relations section of Crocs' website, with a replay available afterward. Crocs is recognized for its innovative casual footwear, primarily made from Croslite™ material, which offers exceptional comfort. The brand emphasizes a message of self-expression and comfort under its Come As You Are™ campaign.
Crocs, Inc. (NASDAQ: CROX) announced a definitive agreement to acquire HEYDUDE™, a casual footwear brand, for $2.5 billion. The acquisition, funded by $2.05 billion in cash and $450 million in Crocs shares, is expected to close in Q1 2022, pending regulatory approval. Executives believe HEYDUDE's profitable growth will enhance Crocs' portfolio. Post-acquisition, HEYDUDE will operate as a standalone division under its founder, Alessandro Rosano. Crocs aims to leverage its global presence to drive HEYDUDE's brand further.
Crocs, Inc. (NASDAQ: CROX) will present at the Morgan Stanley 2021 Virtual Global Consumer & Retail Conference on December 1, 2021, at 9:30 am ET. A live broadcast can be accessed through the Investor Relations section of Crocs' website, with a replay available for six months post-event. Crocs is known for its innovative footwear that emphasizes comfort and style, primarily using its proprietary Croslite™ material. The brand promotes the message of self-expression and comfort through its Come As You Are™ campaign.
Crocs, Inc. (NASDAQ: CROX) will present at the Bank of America Securities 2021 Leveraged Finance Conference on December 2, 2021, at 11:15 am ET. A live broadcast will be available on the company's Investor Relations website, with a replay accessible until March 2, 2022. Crocs is renowned for its innovative casual footwear, focusing on comfort and style using proprietary Croslite™ material. For more information, visit www.crocs.com.
Crocs, in partnership with thredUP, has launched a new Clean Out program aimed at promoting sustainability in footwear. The initiative allows customers to send used Crocs and other apparel to thredUP, where items are inspected and listed for resale. This program supports Crocs' goal to achieve net zero carbon emissions by 2030. Customers can generate prepaid shipping labels and receive shopping credits for their contributions. This partnership aligns with Crocs' broader sustainability efforts, including responsible resource use and waste reduction.
Crocs reported exceptional third quarter 2021 results with 73% revenue growth to $625.9 million and an operating margin of 32.4%. The Americas saw a 94.5% increase in revenue, while digital sales grew 68.9%. Despite challenges from supply chain disruptions, the company expects revenue growth of over 20% in 2022. Crocs also announced significant share repurchase plans totaling $1 billion for the fiscal year.
Management remains confident in future growth driven by brand strength and rising consumer demand.
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.
FAQ
What is the current stock price of Crocs (CROX)?
What is the market cap of Crocs (CROX)?
What is Crocs, Inc. known for?
Where is Crocs, Inc. headquartered?
What does the Crocs Retail Takeback Pilot Program aim to achieve?
How did Crocs perform financially in the third quarter of 2023?
What are the future growth projections for Crocs in 2024?
What are some of the key brands under Crocs, Inc.?
How many countries do Crocs products reach?
What are the main product categories offered by Crocs?
What material is used in Crocs footwear for its unique qualities?
How does Crocs, Inc. contribute to sustainability?
