EnCasual footwear maker Crocs has reported revenue growth of 56.5% year over year in Q4’20, including a 35.7% rise in sales in the Americas and helped by a surge in digital sales and a product mix that leans towards homewear during the pandemic. The firm forecasts growth in Q1’21 of between 40% and 50% year over year as similar trends continue.
Panjiva’s data shows that U.S. seaborne imports linked to Crocs climbed 39.5% higher year over year in Q4’20 and may have jumped by as much as 293% year over year in January.
The latter compares to an unusually low figure a year earlier but nonetheless represents an unusual peak in shipments for the firm. In turn that may reflect delayed deliveries linked to congestion seen across the logistics industry, as outlined in Panjiva’s research of Feb. 15.
Indeed, the firm’s CFO, Anne Mehlman has stated that the firm is “seeing great pressure on inbound largely just due to the supply chain right” while CEO Andrew Rees has noted that “global logistics here in the first quarter are really challenging” in the context of the firm’s growth objective.
Source: Panjiva
The firm’s performance has far outstripped the wider footwear segment, reflecting reduced demand for work- and schoolwear. Other niche, casualwear brands have also done well. Imports linked to sandal maker Birkenstock dipped by 10.2% year over year in Q4’20 but that included a 142.7% surge in December before a further 82.5% expansion in January.
Shipments of footwear linked to Deckers Outdoor meanwhile, which includes the Ugg brand as well as sporting goods such as Hoka, climbed 100.9% higher in Q4’20 before slowing to a 23.2% increase in January.
Source: Panjiva
