Crocs is on track to report its best annual sales ever as the pandemic gives new life to its colourful clogs. The company's shares surged on Monday.
Revenue for 2020 will climb more than 12 per cent to about $1.4 billion, a record high, the company said in a statement. That’s well above Crocs’ earlier forecast for sales growth of no more than 7 per cent.
Crocs shares closed more than 12 per cent higher in New York trading. The stock has been on a four-year winning streak and gained 50 per cent in 2020.
The company’s eponymous product are popular for their comfort – although some dislike the appearance and argue they shouldn’t be used outside of the home. As such, they appear to be built for Covid-19 and its lengthy periods of self-quarantine. The company has also expanded its footwear to include sleeker designs.
Crocs sees 2021 revenue growing 20 to 25 per cent from the previous year.
“Our brand momentum is exceptional, and we anticipate another record year in 2021,” chief executive Andrew Rees said in the statement.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
MATCH INFO
Karnataka Tuskers 110-5 (10 ovs)
Tharanga 48, Shafiq 34, Rampaul 2-16
Delhi Bulls 91-8 (10 ovs)
Mathews 31, Rimmington 3-28
Karnataka Tuskers win by 19 runs
At a glance - Zayed Sustainability Prize 2020
Launched: 2008
Categories: Health, energy, water, food, global high schools
Prize: Dh2.2 million (Dh360,000 for global high schools category)
Winners’ announcement: Monday, January 13
Impact in numbers
335 million people positively impacted by projects
430,000 jobs created
10 million people given access to clean and affordable drinking water
50 million homes powered by renewable energy
6.5 billion litres of water saved
26 million school children given solar lighting
Score
New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs
New Zealand win by 47 runs
New Zealand lead three-match ODI series 1-0
Next match: Zayed Cricket Stadium, Abu Dhabi, Friday
MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
Punchy appearance
Roars of support buoyed Mr Johnson in an extremely confident and combative appearance
UAE currency: the story behind the money in your pockets
