Crocs, Inc. Provides Revenue Guidance for the Fourth Quarter and Full Year of 2023 and Fiscal Year 2024
January 08, 2024 at 07:00 am EST
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Crocs, Inc. Provided Revenue Guidance for the Fourth Quarter and Full Year of 2023 and Fiscal Year 2024. For the quarter, The company expects fourth quarter 2023 revenues to grow over 1% compared to 2022, above guidance for a decline of (4%) to (1%), with the Crocs Brand growing almost 10% and HEYDUDE down (19%) and ahead of guidance.
For the full year of 2023, The company expects full year 2023 revenues to grow over 11% compared to 2022, slightly above guidance of 10% to 11% growth, with Crocs Brand growing over 13% surpassing the $3 billion mark and HEYDUDE revenues of approximately $949 million.
With respect to 2024, compony expect revenue growth of 3% to 5% compared to 2023 comprised of 4% to 6% growth for the Crocs brand and flat to slightly up for HEYDUDE Brand.
Crocs, Inc. is engaged in the design, development, worldwide marketing, distribution, and sale of casual lifestyle footwear and accessories for women, men, and children. The Companyâs segments include Crocs Brand and the HEYDUDE Brand. The Companyâs Crocs Brand collection contains Croslite material, a molded footwear technology, delivering extraordinary comfort with each step. Its Croslite materials are formulated to create soft, comfortable, lightweight, non-marking, and odor-resistant footwear. The HEYDUDE Brand offers shoes with a versatile silhouette. It sells its products in more than 80 countries, through two distribution channels: wholesale and direct-to-consumer. Its wholesale channel includes domestic and international multi-brand retailers, mono-branded partner stores, e-tailers, and distributors; its direct-to-consumer channel includes Company-operated retail stores, Company-operated e-commerce sites, and third-party marketplaces.
CROCS, INC. 
