Crocs (CROX) stock soars to 12-year high

Crocs Inc. (NASDAQ: CROX) stock soared to a 12-year high of $42.59 on Monday as investors remained positive about the company’s future. It remained clear that the stock of the casual footwear maker has shown steady growth in the long term as well as in the short term.

The rise in stock has confirmed that there are more people investing in the company based on past performance and a robust outlook. The stock has climbed over 107% in the past six months and over 46% in the past three months. The shares have risen over 277% in the past five years and over 52% in the past year.

The market experts believe that the company’s performance during the holiday season is likely to be robust. Along with this, the upcoming fourth-quarter results could turn beneficial by the search interest and partnerships with major celebrities.

The consumer demand for Crocs footwear has turned out to be strong and the shift in fashion trends has till now been positive on the stock. The company’s brand continued to sound strongly with consumers due to its impactful marketing and iconic products. Crocs continue to roll out exciting new marketing content and collaborations.

The company also continues to see good traction from the consumers on the global marketplaces and this could be confirmed by the growth in the revenues. The company’s e-commerce continues to increase as the increasing brand heat continues to drive more traffic to Crocs sites.

Read: Foot Locker Q3 earnings review

For the third quarter, Crocs reported a 240% jump in earnings driven by lower expenses as well as higher revenue. The company’s America business delivered exceptional growth, driven in part by another highly successful back to school season. Wholesale revenues grew 25.4%, e-commerce revenues grew 28.2%, and retail comparable store sales grew 12.5%.

For the fourth quarter, the company expects revenue in the range of $245-255 million. Revenue is predicted to grow by 11-12% in 2019 over last year, and by 12-14% year-over-year in 2020. The currency changes and store closures remained a concern in the top-line growth.

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