Crocs posts record revenues in 2021
Footwear brand Crocs saw its revenue increase by 42.6% year-on-year to $586.6 million in its fourth quarter.
Direct-to-consumer sales, which includes retail and ecommerce, rose by 44.5% while wholesale revenues saw an uplift of 40.3%
The quarter’s results meant that revenues climbed by 66.9% to a record $2.3 billion in 2021.
Meanwhile, full year income from operations rose by 219% to $683.1 million from $214.1 million in the previous year.
Andrew Rees, Crocs chief executive, said: “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. Our fourth straight year of revenue growth was fuelled by continued strong consumer demand for the Crocs brand globally.”
During the period, Crocs announced that it was acquiring the Heydude footwear brand for $2.5 billion. The deal is expected to complete this month.
Looking ahead, Lee added: “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.”
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