I’ve written about Crox (CROX) in the past. As seen in this article, I felt the company was making the right marketing moves to ensure long-term success in particular when it came to digital and engagement. The company’s stock has risen close to 80% since my initial recommendation. However, after examining earnings results I continue to be optimistic about the company and its future prospects.
The company’s Q3 2020 revenue increased by 15.7% (15.9% on a constant currency basis) from $312.8 to $361.7 million. The company saw growth on all channels as restrictions and lockdowns were eased worldwide. Revenues from the wholesale and retail distribution segments grew by 12.4% and 8.9%. Comparable store sales at the retail level had revenue growth of 16.2% in Q3 2020 compared to the growth of 12.5% at the same time last year.
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