Shares of Crocs Inc.
CROX,
were on pace to post their biggest percentage increase in nearly four years, after the casual shoe maker forecast fourth-quarter and full-year sales above the company’s previous expectations. Shares jumped 20.2%, putting the stock on track for its biggest percentage gain since April 6, 2020, when it rose 26.3%. Executives said they expected sales for the full year to rise more than 11%, slightly above earlier expectations of 10 to 11% growth, with a gain of more than 1% in the fourth quarter, compared to earlier forecasts of 1% growth. 4% drop. Crocs said it expects sales growth of 3% to 5% for 2024. The company, which makes clogs and sandals, made the announcement at a conference. In a presentation, Crocs, whose shoes have become more popular with younger consumers, said they benefit from trends toward precariousness, customization and “comfort-driven functionality.”
