The new normal looks to suit Crocs very well as its fourth quarter sales spiked 56.5 percent while 2020 revenues increased 12.6 percent to over $1.3 billion. Not surprisingly, ecommerce revenues grew 58.2 percent, wholesale revenues were up 5.6 percent and comp store sales rose 21.2 percent. What’s more, the brand forecasts first-quarter growth in the range of 40 percent to 50 percent.
“We achieved record fourth-quarter revenues and profitability and finished 2020 with very strong brand momentum,” states Andrew Rees, CEO. “We are looking forward to an exceptional 2021 with accelerated revenue growth as we invest in digital, China and our supply chain to support future growth. I am confident in our ability to continue to deliver outstanding profitability and strong cash flow. The Crocs brand has never been stronger, and I am very excited about our future.”
Crocs Duet Max Clog II, its fifth collab with musician Post Malone, dropped in December 2020.