Why Crocs Stock Rallied 15% at the Open Today
Shares of Crocs (NASDAQ: CROX), the maker of the iconic plastic shoes that bear the company's name, rose a huge 15% in early trading on Tuesday. There's little question about what investors were excited about, given the company's pre-market earnings release. But there were more positives here than just last quarter's strong results.
To get the basics out of the way, Crocs' first-quarter 2021 sales grew 64% year over year to $460 million. Digital sales expanded 75%, now making up around 32% of total sales, and sales in Asia increased 26%. Adjusted earnings, meanwhile, increased from $0.22 per share in the first quarter of 2020 to a far more impressive $1.49 per share this year.
Image source: Getty Images.
Source Fool.com
