Crocs, Inc. (NASDAQ:CROX) shares are trading lower after the company issued first-quarter sales guidance below estimates.
Crocs reported quarterly earnings of $2.15 per share which beat the analyst consensus estimate of $2.00. The company reported quarterly sales of $586.60 million which beat the analyst consensus estimate of $585.02 million. This is a 42.55% increase over sales of $411.51 million the same period last year.
"A strong 2021 holiday season completed a very successful year for our brand. We achieved incredible results with record revenues of $2.3 billion, 67% revenue growth and industry-leading 30% operating margin," said Andrew Rees, Chief Executive Officer.
"Our fourth straight year of revenue growth was fueled by continued strong consumer demand for the Crocs brand globally. We are excited about our sustainable growth trajectory for both the Crocs and HEYDUDE brands and are confident in our plan to grow to $6 billion in revenues by 2026," Rees stated.
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Crocs has a 52-week high of $183.88 and a 52-week low of $70.34.
