A deep dive into CROCS companyHello,
Crocs, Inc. engages in the design, development, manufacturing, worldwide marketing, sale, and distribution of casual footwear and accessories for men, women, and children. It operates through the following segments: North America, Asia Pacific, Europe, Middle East, Africa, and Latin America (EMEALA), and HEYDUDE Brand.
According to their website below are the things that you should look at before investing in CROCS
A Global, Scale Leader in Casual Footwear
>$3 billion of annual sales
Aligned with global megatrends such as casualization and personalization
Two Iconic Brands
The unmistakable Classic Clog of the Crocs Brand recognized around the world
The “Good to Go-To” comfort of HEYDUDE. Some of the cushiest, comfiest, airiest, featheriest, lightest shoes on Earth.
Strong Financial Profile
Sustainable, profitable revenue growth
Industry-leading adjusted operating margin of 26%+ Robust free cash flow generation
Experience & Skills
Management team with deep industry experience and essential skills
The Q2 2023 Highlights are as below
• Revenues of $1,072 million, +12% CC(1)
◦ Crocs Brand revenues of $833M, +15% CC(1)
▪ Asia revenues up +39% CC(1)
▪ DTC comparable sales growth +20%
▪ North America revenues +13% CC(1) driven by
sandals and new product introductions
◦ HEYDUDE Brand revenues of $239M, +3% CC(1)
▪ DTC growth of +30% CC(1)
▪ Digital growth of +37% CC(1)
• Adjusted diluted EPS +11% to $3.59 per share(2)
• Gross leverage was 1.8x at quarter end, allowing us to repurchase $50M of shares in July
• Crocs, Inc. was named to the Time100 Most Influential Companies of 2023
I will be looking for buy of this stock at around USD 55.02 areas with a target of USD 146 per share.
Good luck & Happy Investing.
