COVID-19 shutdowns have shoppers pivoting from fashion to comfort, and Crocs has continued to reap the benefit.
The foam clog company reported Tuesday that sales surged 64 percent in its first quarter to $460 million, reports CNN Business. It expects revenue for the year to increase between 40 and 50 percent, up from its previous forecast of a 20-25 percent increase. The company's shares are now up over 16 percent to $98.98 on the Nasdaq, writes CNN.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
'Virtual prisons': how tech could let offenders serve time at homeUnder The Radar New technology offers opportunities to address the jails crisis but does it 'miss the point'?
-
The Week contest: Airport goodbyesPuzzles and Quizzes
-
'We shouldn't be surprised that crypto is back'Instant Opinion Opinion, comment and editorials of the day
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
