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Crocs Raises 2021 Revenue, Non-GAAP Operating Margin Guidance; Affirms 2022 Outlook

Crocs, Inc. (CROX) said it expects full year 2021 revenues to grow approximately 67%, up from recent guidance of approximately 62% to 65% growth. The company increased full year 2021 non-GAAP operating margin to nearly 30%.

Crocs anticipates fourth quarter revenue growth of approximately 42%. The company projects fourth quarter non-GAAP operating margin of approximately 28%.

For fiscal 2022, revenue growth for the Crocs brand, excluding HEYDUDE, is anticipated to exceed 20% compared to 2021. Non-GAAP operating margin for the Crocs brand, excluding HEYDUDE, is expected to be approximately 25% including the impact of air freight.

The company said it remains confident in the Crocs brand and continues to project to achieve $5 billion in revenues by 2026, even before any HEYDUDE revenues.

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