Crocs, the shoe company known for its signature clogs, shared good news with Wall Street investors, marking a turnaround from earlier this year.
Revenues for the Broomfield-based company were down less than analysts forecast during the fourth quarter. Crocs CEO Andrew Rees attributed the results to a better-than-expected holiday season.
“We had a strong holiday season with positive consumer response to our new product introductions,” Rees said during a conference call for investors on Thursday.
The company’s stock rose 20% after the earnings announcement.
Crocs’ stock took a beating earlier this year, largely due to concerns that President Donald Trump’s tariffs would hurt the company’s bottom line. Last May, Crocs scrapped its financial forecast for 2025 because of uncertainty over tariffs. Crocs is heavily reliant on overseas manufacturers in places like China, Vietnam, India and Cambodia.
On top of tariffs, CEO Rees told investors over the summer that inflation-weary shoppers were pulling back.
Tariffs are still an issue for the company. Executives expect an $80 million hit from tariff costs, down from the $90 million that was forecast last year.
