CROCS SALES PEAK AS PANDEMIC GIVES CLOGS NEW LIFE

Crocs Inc. is on track to report its best annual sales ever as the pandemic gives new life to its colourful clogs. Revenue for 2020 will climb more than 12 per cent to about US$1.4 billion, a record high, the company said Monday. That's well above Crocs' earlier forecast for sales growth of no more than 7 per cent. Crocs shares jumped as much as 11.5 per cent in New York. The stock has been on a four-year winning streak and gained 50 per cent in 2020. The company's eponymous product are popular for their comfort — although some argue they shouldn't be used outside of the home. As such, they appear to be built for COVID-19 and its lengthy periods of self-quarantine. Crocs sees 2021 revenue growing 20 per cent to 25 per cent from the previous year.