Lemon_tm We previously covered Crocs, Inc. (NASDAQ: NASDAQ: CROX ) in March 2024, discussing why we had upgraded the stock to a Buy as the CROX management offered a promising guidance for HeyDude sales recovery in H2'24, with the robust cash flow also well deployed towards deleveraging and share count retirement. Combined with the growing demand for its products internationally, well balancing the decelerating growth domestically, we believed that it had offered a compelling growth investment thesis then.
Since then, the CROX stock has already recovered by +23.7% well outperforming the wider market at +5.1%.
Even so, we are re-iterating our Buy rating here, as the company reports double beat FQ1'24 earning call while raising its FY2024 guidance, thanks to the robust Crocs sales domestically/ internationally, well balancing HeyDude's ongoing inventory correction. We are also encouraged by the new management brought in to revitalize the HeyDude brand, despite the recently lowered FY2024 HeyDude guidance. Combined with the healthier balance sheet and the growing bullish support observed in its stock movement, CROX remains a compelling investment.
CROX Continues To Deliver Robust Profitable Growth Domestically & Internationally Author's Rating Seeking Alpha CROX continues to demonstrate why it is a successful global footwear brand, despite our original reservations in September and December 2023. We have applauded its turnaround then, with Crocs continuing to report promising sal.
