Updated: Mar 16
Crocs said Monday it sees sales in 2021 climbing about 67% from 2020, more than expected.
"2021 has proven to be an exceptional year for the Crocs brand...in a challenging global supply chain environment," Crocs CEO Andrew Rees said in a statement.
Crocs had called for full-year sales growth of 62% to 65%.
Analysts were looking for 65% year-over-year growth, according to Refinitiv estimates.
For the fourth quarter, Crocs said it saw sales growth of 42%, better than the 36.6% growth analysts had predicted.
The retailer did not provide an outlook for fourth-quarter earnings. Analysts expected Crocs to earn an average of $1.39 per share.
And for 2022, Crocs reaffirmed its expectations for revenue growth of more than 20%.
Analysts expect a 32% increase over the previous year's levels.
Crocs announced in December its intention to acquire privately held footwear brand Hey Dude for $2.5 billion in a cash-and-stock deal .
The deal is expected to close in the first quarter.
Source : CNBC.com