Crocs (NASDAQ:CROX) said Monday it sees sales in 2021 climbing about 67% from 2020, more than it previously anticipated.
Crocs had been calling for full-year sales to be up 62% to 65%. Analysts were looking for 65% year-over-year growth, according to estimates.
"2021 proved to be an exceptional year for the Crocs brand ... amidst a challenging global supply chain environment," said CEO Crocs Andrew Rees.
For the fourth quarter, Crocs said it sees sales rising 42%, better than the 36.6% growth that analysts had predicted.
And for 2022, the retailer reaffirmed expectations of revenue growth, excluding Hey Dude, to exceed 20%. Analysts are looking for a 32% increase from prior-year levels.
Crocs announced in December it planned to acquire the privately held footwear label Hey Dude for $2.5 billion in a cash-and-stock deal. The transaction is expected to close in the first quarter.
The company foresees full-year pro forma revenues for HEYDUDE to be approximately $700 to $750 million .Gross margin to include an incremental $75 million of air freight compared to 2021. Non-GAAP operating margin for the Crocs brand, excluding HEYDUDE, of approximately 25% including the impact of air freight.
Crocs prides itself in being "a world leader in innovative casual footwear for women, men, and children, combining comfort and style with a value that consumers know and love."
The vast majority of shoes within Crocs' collection contains Croslite material, a proprietary, molded footwear technology, delivering extraordinary comfort with each step.
CROX sank $4.64, or 3.7%, to $121.06.
