Is Now the Right Time to Buy Crocs Stock?
With inflation raging and consumers adjusting their spending to account for higher basic costs of living, one might expect a company like Crocs (NASDAQ: CROX) to be doing poorly. The foam clogs company is holding its own, though, continuing to grow sales while maintaining exceptional profit margins.
Crocs -- including its new brand, Hey Dude, which it acquired early this year -- also raised its outlook for full-year 2022. Nevertheless, even after a post-quarterly report stock pop, the shares are still down well over 50% from a year ago. Is now the time to buy Crocs stock?
Crocs' total revenue increased 57% year over year in the third quarter to $985 million, easily sailing past its own expectations for sales to be as much as $955 million. This came in spite of ongoing inflationary pressures as well as a record run-up in the U.S. dollar (a side effect of the U.S. Federal Reserve's interest rate hikes).
Source Fool.com
