Shares of Crocs (CROX) rose as much as 17% and reached a record high in intraday trading off the heels of an investor day that gave Wall Street plenty to dig its heels into. Shares closed at $149.38 apiece, up 11.66% on the day. Crocs expects to pull in revenue of over $5 billion by 2026. It will also focus on expanding its reach in Asia and expanding its digital growth. The company is also boosting its sustainability efforts, announcing a new bio-based, lower carbon material called… Source link
Read More »Why Crocs are still insanely popular
Crocs CEO Andrew Rees continues to lead one of the hottest footwear brands on the planet, a brand founded in 2002 that has seen its fair share of peaks and valleys in consumer adoption. Rees tells Yahoo Finance Live the company is still firing on all cylinders for several reasons, besides just inking buzzy partnerships with an influencer such as Justin Bieber and high-end fashion brand Balenciaga. “It’s comfortable [the shoes], it’s easy on and off. It’s lightweight, so it’s very easy to… Source link
Read More »