Crocs expected to hit Billion in 2011

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Shoe manufacturer Crocs Inc (CROX) recently announced that it expects to achieve the higher end of its revenue guidance of $200 million to $205 million for the fourth quarter of 2011, based on the solid performance of retail business. Thus, the Niwot, Colorado-based company expects to post revenues of more than $1 billion for fiscal 2011, as against revenues of $790 million in 2010. You can read the full article here.

We believe that it is a remarkable achievement for the company to garner revenues of $1 billion in less than a decade. The footwear company succeeded in driving its revenue on the strength of its brand and solid presence in the international market. Encouraged by the news, the company’s share price surged $2.61 to close at $18.56 on Wednesday.

Crocs, which primarily operates in Europe, Asia and America, continues to make efforts to drive margins and expects gross margin to be in the mid-50% range in 2011. Crocs balance sheet position also remains strong with no debt and a new $70 million line of credit

John McCarvel, CEO & President of Crocs Inc. is presenting at the upcoming Retail Show Australia event, taking place in Sydney on 20-21 March. He will present on “How to drive global growth with a strong brand and robust multi-channel operations.”  To learn more about this this you can click here.