Please select the second broker

Author: Alan LittleDate: 2021-01-12

Crocs (CROX) +14% on strong 2021 revenue growth forecast

Crocs (CROX) traded at a 52-week high on Monday after the footwear maker raised its Q4 revenue outlook and forecast strong returns for 2021 amid “exceptional” momentum.

Crocs (CROX) surged 13.81% on Monday after the footwear maker said that its revenue growth could potentially double in 2021 on the back of what it perceives to be “exceptional” brand momentum.

Before markets opened for the week, Crocs estimated that Q4 revenue had soared approximately 55% to between $407m-$410m, which would be way ahead of the $329.8m Wall Street consensus.

Chief executive Andrew Rees said that the company, renowned for its foam clogs, is on track to deliver the best returns in its history, despite the challenges associated with the pandemic.

After a strong end to 2020, Crocs now expects revenue of up to $1.384bn for the full calendar year, which would represent a 12% increase on 2019.

The Colorado-based company is confident that its recent upswing will continue and help it to deliver revenue growth of up to 25% this year.

Rees added: “We remain focused on continuing to deliver sustainable, profitable growth for years to come.”

Crocs also impressed in its Q3 report as $0.91 earnings per share beat the consensus by 22 cents, while revenue jumped 16%.

After the revised upward sales outlook, CROX was trading much higher on the Nasdaq.

At around 12:30pm ET, Crocs had made gains of 12.60% as shares climbed to a new $75.07 price.

The latest rise caps a remarkable rebound for Crocs after it traded at a 52-week low of just $8.40 back in March 2020.

Office Depot (ODP) was also a big winner on Monday after rising 19% on news of its potential acquisition by Staples in a $2.1bn cash deal that could be agreed in March.





Scam Brokers, Broker Complaints

Are you aware of a scam broker or want to make a broker complaint?

We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.

We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.

We use the information you give us to decide if we want to continue to promote a broker on our site.

Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.