Crocs expected to hit Billion in 2011

 

Crocs expected to hit Billion in 2011

Shoe manufacturer Crocs Inc (CROX) recently announced that it expects to achieve the higher end of its revenue guidance of $200 million to $205 million for the fourth quarter of 2011, based on the solid performance of retail business. Thus, the Niwot, Colorado-based company expects to post revenues of more than $1 billion for fiscal 2011, as against revenues of $790 million in 2010. You can read the full article here.

We believe that it is a remarkable achievement for the company to garner revenues of $1 billion in less than a decade. The footwear company succeeded in driving its revenue on the strength of its brand and solid presence in the international market. Encouraged by the news, the company's share price surged $2.61 to close at $18.56 on Wednesday.

Crocs, which primarily operates in Europe, Asia and America, continues to make efforts to drive margins and expects gross margin to be in the mid-50% range in 2011. Crocs balance sheet position also remains strong with no debt and a new $70 million line of credit

John McCarvel, CEO & President of Crocs Inc. is presenting at the upcoming Retail Show Australia event, taking place in Sydney on 20-21 March. He will present on "How to drive global growth with a strong brand and robust multi-channel operations."  To learn more about this this you can click here.

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