Crocs Sees FY24 Revenue Growth Of 3% YoY (Lower End Of Prior Guidance Of 3%-5%); Revenues For The HEYDUDE Brand To Be Down Approximately 14.5%, Versus Prior Outlook Of Down 10%-8%
Portfolio Pulse from Benzinga Newsdesk
Crocs has adjusted its FY24 revenue growth forecast to 3% year-over-year, which is at the lower end of its previous guidance of 3%-5%. Additionally, the company expects revenues for its HEYDUDE brand to decline by approximately 14.5%, compared to the prior outlook of a 10%-8% decrease.
October 29, 2024 | 11:16 am
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Crocs has revised its FY24 revenue growth forecast to 3%, at the lower end of its previous guidance. The HEYDUDE brand is expected to see a larger decline in revenues than initially anticipated.
The revision of Crocs' revenue growth to the lower end of its guidance and the larger-than-expected decline in HEYDUDE brand revenues suggest potential challenges in meeting financial expectations. This could negatively impact investor sentiment and the stock price in the short term.
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