Here's a sentence I never thought I'd write: Crocs (NASDAQ: CROX) is the global leader in clogs, and clogs are picking up steam.
Regardless of your opinion on the polarizing footwear, the comfortable foam shoes have been enjoying an astonishing run in recent years. With casual wear on the rise, the company thinks its market leadership will translate into huge sales growth over the next five years. Specifically, on the company's investor day, Crocs' management shared that they think sales will reach $5 billion by 2026, representing average annual growth of 17% based on the midpoint of its full-year 2021 revenue outlook (pegged at $2.25 billion).
Maybe you're scoffing at the idea of clogs reaching such epic proportions. But some may have felt the same way a long time ago about sneakers becoming a day-to-day footwear option outside of sporting events. Could Crocs' ambitious projections come true? Here are three reasons why they might, plus some considerations for whether or not you should jump aboard the Crocs train.
For further details see:3 Reasons Crocs' Ambitious Growth Projections Might Be for Real