Crocs projects $5B in sales by 2026

BROOMFIELD — Crocs Inc. (Nasdaq: CROX) isn’t expecting any slowdown in sales after its historic revenue year in 2020.

In a long-term strategy update released this week, the casual shoemaker is projecting to hit sales of $5 billion by 2026.

That’s well above the record $1.4 billion in revenue Crocs posted last fiscal year and the nearly $1.39 billion the company is forecasting for 2021. 

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To hit the $5 billion mark, Crocs anticipates achieving a compound annual growth rate in excess of 17% over the next five years. 

“We are incredibly proud of the track record of growth and shareholder value creation since we first embarked on the turnaround of the Crocs brand in 2014,” Crocs CEO Andrew Rees said in a prepared statement. “We expect the Crocs brand to grow to over $5 billion in sales by 2026. We are confident in our ability to deliver this growth while maintaining industry-leading profitability, creating significant shareholder value, and having a positive impact on our planet and our communities.”

While $5 billion sounds like an astronomical sum for a footwear company, Nike Inc.’s (NYSE: NKE) annual revenue topped $42 billion this year.

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