The company sees long-term opportunities in Asia, primarily in China, which is the second-largest footwear market in the world.Ĭrocs expects revenue growth to see a CAGR of 25% and represent 24% of the total revenues in 2026. Management expects four times revenue growth in sandals by 2026. The company expects to attain the revenue target, driven by strong digital sales, improved market share for sandals, growth in Asia, and innovative product and marketing. It expects to generate revenues of more than $5 billion by 2026, representing compounded annual growth rate (CAGR) of more than 17% in the next five years. Management outlined its long-term strategy and key initiatives to deliver sustainable growth. The brand is expected to attain $1 billion in revenues in 2023. For 2022, revenues related to the HEYDUDE buyout are likely to be $850-$890 million. Management is optimistic about the HEYDUDE brand.
Notably, the HEYDUDE brand’s revenues surged 87% year over year to $269.4 million in the third quarter. Gains from strategic collaborations, influencer campaigns, and digital and social marketing efforts were upsides.Ĭrocs has been gaining from its acquisition of HEYDUDE, which sells lightweight, casual shoes and sandals for men, women and children. Increased focus on the Crocs mobile app and global social platforms aided digital sales. This was mainly driven by growth across all regions and customer acquisitions. We note that digital sales advanced 22% year over year on a cc basis in the third quarter, representing 37.4% of sales. The company is on track with the expansion of digital and omnichannel capabilities. Revenues advanced 57.4% (or 63% on a constant-currency basis) year over year to $985.1 million, driven by growth across all regions and channels.
Adjusted earnings of $2.97 per share advanced 20.2% from $2.47 in the year-ago period. Sales and earnings improved year over year. This led to a top and bottom-line beat for the 10th straight quarter in the third quarter of 2022. ( CROX Quick Quote CROX - Free Report) has been gaining from solid consumer demand, as well as strength in the Crocs and HEYDUDE brands.
0 kommentar(er)
