1 Hot Growth Stock to Buy on the Dip

Wall Street is highly pessimistic about the footwear industry today. Most of the biggest players you'd associate with the niche, including Nike (NYSE: NKE), are underperforming the market by a wide margin. Foot Locker (NYSE: FL) has lost over 52% of its value this year, too, as investors worry about its shrinking sales and declining profit margin.

Yet there's another industry competitor that's posting much stronger results. This company recently raised its sales and earnings outlook, in fact, following a solid second quarter. But the stock is down nearly 19% this year while the S 500 has increased by 15%. Let's take a closer look at (NASDAQ: CROX) and see why investors might want to take advantage of this valuation dip.

Crocs gave investors a lot to celebrate in its most recent earnings update. Sales crossed $1 billion in Q2, rising 12% year over year after adjusting for currency exchange rate swings. This boost reflected market share gains for both its core Crocs brand and the newly integrated Hey Dude franchise. Growth was especially strong for both segments in the direct-to-consumer business.

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Source Fool.com