The US shoe retailer Crocs Inc. set a new sales record in the 2021 financial year. In addition, the company was able to more than double its net profit. “A strong Christmas business in 2021 has completed a very successful year for us,” said CEO Andrew Rees in a statement on Wednesday, praising the “incredible results” in the past year.
The plastic shoe specialist achieved annual sales of 2.31 billion US dollars (2.04 billion euros). Compared to 2020, this means an increase of 66.9 percent. Adjusted for exchange rate changes, revenues grew by 65.2 percent.
The development in America made a decisive contribution to the strong upswing, where sales increased by 86.1 percent (currency-adjusted +85.9 percent) to USD 1.61 billion. In the EMEA region, which includes Europe, the Middle East and Africa, they increased by 46.2 percent (+41.7 percent at constant currency) to $356.2 million, in Asia-Pacific by 25.7 percent ( currency-adjusted +21.5 percent) to 350.2 million euros.
Thanks to higher margins, the company was able to more than triple its operating profit: it grew from 214.1 to 683.1 million US dollars (+219.0 percent). Net income was $725.7 million (EUR 638.6 million), up 132.0 percent year-on-year. In 2020, however, Crocs booked significantly higher tax credits than in the past year.
The shoe supplier also wants to grow strongly in the current financial year: the Crocs brand is still targeting a sales increase of more than twenty percent. The Heydude label, whose takeover, which was decided in December, is expected to be completed in February, is expected to contribute an additional 620 to 670 million US dollars to group sales. The guidance range for adjusted diluted earnings per share is $9.70 to $10.25, up from $8.32 last year.