CROX - Crocs: The Past Doesn't Always Reflect The Future
2024-04-11 10:51:55 ET
Summary
- Crocs' stock has risen 37% YTD, outperforming the S&P 500 Consumer Discretionary index. Its attractive market multiples and healthy performance in 2023 go in its favour.
- However, there are risks ahead. Its outlook for 2024 is cautionary, with a sharp slowdown expected in both revenue and earnings growth.
- This comes in the context of weakening macroeconomic support. Retail sales are slowing down, inflation has inched up, and interest rates can indeed stay higher for longer.
Shoe manufacturer and brand Crocs, Inc. ( CROX ) has seen an impressive 37% share price rise year-to-date [YTD], far outstripping the small 3% increase in the S&P 500 Consumer Discretionary index. This is also a welcome change after the stock dropped by 14% in 2023....
Crocs: The Past Doesn't Always Reflect The Future