Footwear is offered for sale at a Crocs retail store on July 22, 2021 in Chicago, Illinois.
Scott Olson | Getty Images
Crocs said Monday it sees sales in 2021 climbing about 67% from 2020, more than it previously anticipated.
Crocs had been calling for full-year sales to be up 62% to 65%. Analysts were looking for 65% year-over-year growth, according to Refinitiv estimates.
“2021 proved to be an exceptional year for the Crocs brand … amidst a challenging global supply chain environment,” said Crocs Chief Executive Andrew Rees in a statement
The stock was recently falling 1.6% in premarket trading, having closed Friday down 2.3% at $125.70.
For the fourth quarter, Crocs said it sees sales rising 42%, better than the 36.6% growth that analysts had predicted.
The retailer didn’t provide an outlook for fourth-quarter earnings. Analysts were projecting Crocs would earn $1.39 a share on average.
And for 2022, Crocs reaffirmed expectations of revenue growth, excluding Hey Dude, to exceed 20%. Analysts are looking for a 32% increase from prior-year levels.
Crocs announced in December it planned to acquire the privately held footwear label Hey Dude for $2.5 billion in a cash-and-stock deal. The transaction is expected to close in the first quarter.
Read the full press release from Crocs here.