HBI - Crocs Maintains Brand Relevance: Is This Behind Its Rally? | Benzinga
Crocs Inc. (NASDAQ: CROX) has created a market niche through its footwear brands focused on comfort and style. Famous for its iconic clog material, Crocs' simple design and great comfort continue to be an instant hit among consumers. The company offers a wide variety of footwear products, including sandals, wedges, flips and slides that cater to people of all ages.
Crocs witnesses favorable trends, supported by solid consumer demand across the Crocs and HEYDUDE brands, accompanied by effective pricing actions and lower freight costs. Additionally, the company is confident about its strategies and investments, which are expected to drive long-term market share gains.
Shares of this Zacks Rank #3 (Hold) company have risen 45.7% in the year-to-date period against the industry's 25.5% decline. The leading footwear company also compared favorably with the sector's decline of 1.1% and the S&P 500's growth of 16.9%.
The Zacks Consensus Estimate for CROX's current financial-year sales and earnings indicates growth of 4.4% and 5.6%, respectively, from the year-ago reported numbers.
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Crocs' Long-Term Game Plan
We expect the CROX stock to retain momentum, given its continued progress on the long-term strategy and key initiatives to deliver sustainable growth announced in September 2021. The company's growth strategy is focused on three key initiatives to drive durable and consistent growth — igniting icons to enhance brand awareness and relevance; investing strategically in Tier 1 markets to drive market share growth; and diversifying the ...