Christmas cheer for Crocs
Casual footwear brand Crocs has said 2023 ended well for it and that it now expects its revenues for the year to reach a record figure of $3.95 billion. This would be growth of 11% compared to 2022.
Initially, Crocs expected its revenues for the fourth quarter to be down year on year, but it now expects the fourth-quarter figure to be 1% higher than a year earlier.
Chief executive, Andrew Rees, said it had been a strong year, “culminating in a successful holiday season”. He said both the group’s brands, Crocs and Hey Dude, had achieved gains in market share.
Mr Rees added: “We are coming into 2024 from a position of strength and are making the decision to reinvest our margins into focused, strategic investments as we continue to set ourselves up for long-term, durable growth.”
