A Bull Market Is Coming. Is It Too Late to Buy Crocs Stock?
Foam clog shoemaker and retailer Crocs (NASDAQ: CROX) just capped off an epic 2022. After years of double-digit growth and then an early pandemic boom in sales, Crocs said full-year 2022 sales increased 54% year over year to $3.55 billion, keeping it on track to reach its stated goal of $6 billion in annual sales by 2026.
After slumping through last summer, share prices of Crocs have more than doubled since. A bull market may be coming eventually for stocks overall, but one is already here for this top footwear brand. With Crocs' growth poised for a big slowdown this year as the global consumer continues to digest inflation and other economic uncertainties, some wonder if the bull market has already ended. Is it too late to buy this stock?
Crocs' epic 2022 revenue growth rate, including a 61% year-over-year jump in the fourth quarter (or 65% when excluding the persistent headwind from a strong U.S. dollar), was helped by the big acquisition of the Hey Dude brand in February 2022.
Source Fool.com
