Crocs expects record sales for full-year 2021

BROOMFIELD — Coming off its best sales year ever in 2020, casual footwear maker Crocs Inc. (Nasdaq: CROX) expects to best those results for the 2021 fiscal year.

The company, in a disclosure to the U.S. Securities and Exchange Commission, said it “expects record 2021 revenues with approximately 67% growth compared to 2020.”

Crocs recorded revenues of $1.4 billion in the 2020 fiscal year.

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The 2021 fiscal year, for which the company will provide a full accounting on Tuesday, “proved to be an exceptional year for the Crocs brand, highlighted by expected 67% revenue growth amidst a challenging global supply chain environment,” Crocs CEO Andrew Rees said in a prepared statement. 

The record sales performance comes amid a year when Crocs inked a deal to acquire casual footwear brand Heydude for $2.5 billion, the Broomfield clog giant’s largest acquisition to date. 

“We remain incredibly confident in the Crocs brand and continue to expect to achieve $5 billion in revenues by 2026, even before any Heydude revenues. Building upon that strong foundation, upon closing, we are excited to add Heydude as another high growth, highly profitable brand,” Rees said. 

Crocs is estimating that sales in 2022 will continue to climb and is providing guidance for a roughly 20% increase over the prior year. 

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