Why Crocs Stock Is Soaring 12% Today

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Shares of Crocs (NASDAQ: CROX) were soaring 12% higher heading into midday trading Monday after the company reported its best annual sales ever due to heightened demand during the COVID-19 pandemic.

The shoe company said it expects revenue for 2020 to come in between $1.381 billion and $1.384 billion, up 12% from 2019 at the high end, which would be the highest amount Crocs ever achieved in its 18-year history. It’s also well above the 5% to 7% gain the company forecast at the end of the third quarter.

Image source: Crocs.

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