Crocs Reports Record-High Second Quarter Revenue As Global Demand Surges

The casual footwear label has never been stronger.

Fashion
5,867 Hypes 7 Comments

Crocs Inc. on Thurdsay reported a second-quarter revenue of $640.8 million USD, a 93.3 percent increase — or an 88.4 percent increase on a constant currency basis — in comparison to 2020. The figure exceeded the Colorado-based shoe company’s initial revenue projection of $565.2 million USD amid surging global demand.

Additionally, the company shared diluted earnings per share of $4.93, a large increase to 2020’s 83 cents in the same period. Adjusted diluted earnings per share were reported at $2.23, a $1.22 increase from the company’s figures for the same period last year.

Crocs also raised its full-year guidance, now expecting its revenue to increase between 60 and 65 percent in comparison to 2020. Last quarter, the brand reported an updated guidance that expected sales to grow between 40 and 50 percent across the full year. During its third quarter, the company forecasts that its revenue will increase between 60 and 70 percent compared to 2020’s $361.7 million USD earnings for the same period.

The company also reported that operating income more than tripled to $195.3 million USD compared to 2020 figures, while operating margins increased to 30.5 percent.

“We continue to see strong consumer demand for the Crocs brand globally. On the back of record second quarter results and continued momentum, we are raising our full year 2021 guidance,” said Andrew Rees, Crocs chief executive officer in a statement. “We are also committing to net zero emissions by 2030, enabling us to provide ‘comfort without carbon’ to our customers worldwide.”

Elsewhere, Bodega is celebrating 15 years of business with a PLEASURES capsule collection.

Read Full Article

What to Read Next

NVIDIA Hits Record Second Quarter As Revenues Grow 68%
Tech 

NVIDIA Hits Record Second Quarter As Revenues Grow 68%

Gaming revenue soared 85 percent.

Amazon Reports $7.8 Billion USD in Profit For Second Quarter, Misses Revenue Expectations
Tech 

Amazon Reports $7.8 Billion USD in Profit For Second Quarter, Misses Revenue Expectations

The company reported a 27 percent increase in sales.

LVMH's Second-Quarter Revenue Soars Above Pre-Pandemic Numbers
Fashion 

LVMH's Second-Quarter Revenue Soars Above Pre-Pandemic Numbers

Louis Vuitton, Dior, Fendi, Loewe and Celine reported record sales and profitability.


COVID-19 Pushed Crocs Shares to an All-Time High
Footwear 

COVID-19 Pushed Crocs Shares to an All-Time High

Work-from-home comfort and high-profile collaborations have driven the brand’s success.

Lil Uzi Vert Says He’s Buying a Planet Larger Than Jupiter
Music

Lil Uzi Vert Says He’s Buying a Planet Larger Than Jupiter

Potentially making him the first human to legally own a planet.

ASICS Supplies Two Sporty Takes on the GEL-LYTE III
Footwear

ASICS Supplies Two Sporty Takes on the GEL-LYTE III

Each with a vivid color scheme and alternating material construction.

Belly Unites With Young Thug and The Weeknd for ‘Better Believe’
Music

Belly Unites With Young Thug and The Weeknd for ‘Better Believe’

Appearing on Belly’s forthcoming album, ‘See You Next Wednesday.’

BBC ICECREAM is Reviving Its Iconic OG BBC Logo Fitted Hat
Fashion

BBC ICECREAM is Reviving Its Iconic OG BBC Logo Fitted Hat

A nostalgic fashion piece from the 2003 archives.

John Geiger Teams with Stealboyz for Hand-Dyed GF-01s
Footwear

John Geiger Teams with Stealboyz for Hand-Dyed GF-01s

Limited to a scant 50 pairs per color.


Vetements Unveils Its Long-Awaited "Secret Project": A New Brand Called VTMNTS
Fashion

Vetements Unveils Its Long-Awaited "Secret Project": A New Brand Called VTMNTS

With a Spring/Summer 2022 menswear collection featuring 100 looks.

Lygia Pape's "Tupinambá" Exhibition Will Chill the Senses
Art

Lygia Pape's "Tupinambá" Exhibition Will Chill the Senses

Now on view at Hauser & Wirth Los Angeles.

BTS To Perform Three Songs in the Band’s First-Ever TV Special
Music

BTS To Perform Three Songs in the Band’s First-Ever TV Special

Premiering July 28 on BBC One.

Vans Alters its Signature Checkerboard Pattern for New Slip-On "Trapezoid"
Footwear

Vans Alters its Signature Checkerboard Pattern for New Slip-On "Trapezoid"

Bold patterns meet bright colors on the laceless sneaker.

The "G-Train" Is a $350 Million USD Luxury Vessel of the Future
Automotive

The "G-Train" Is a $350 Million USD Luxury Vessel of the Future

Better start saving up.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.