Crocs expects sales to top $3.5B in record 2022

BROOMFIELD — Crocs Inc. (Nasdaq: CROX) expects to take its biggest bite ever from the global footwear sales pie, projecting this week 2022 full-year revenues of $3.55 billion.

That record sales total would represent 53% growth over 2021 revenues. 

“2022 was an exceptional year for Crocs, Inc., with strong consumer demand for both the Crocs and Heydude brands driving expected 53% revenue growth. We are also pleased to have made significant progress on deleveraging, as we have reduced borrowings by approximately $500 million since acquiring Heydude in early 2022,” Crocs CEO Andrew Rees said in a prepared statement.

Looking ahead, Crocs expects to break its sales record next year. 

“With respect to 2023, we expect revenue growth of 10% to 13% compared to 2022, resulting in full year revenues of approximately $3.9 billion to $4.0 billion at current currency rates,” the company said in a regulatory disclosure.

Crocs stock, which began trading Tuesday at $116.53, has been on a tear recently, up nearly 30% over the past month.