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Crocs, Birkenstock run ahead as casual leads footwear trade growth

Cons. Discr. - Apparel 400 Cons. Discr. - Retailing 351 Coronavirus 469 Earnings 555 Quote Watch 321 U.S. 4830

Footwear maker Crocs reported Q4’20 revenue growth of 56.5% year over year and expects a further expansion of 40% to 50% in Q1’21. Crocs’ growth, which has far outstripped the footwear sector, has been driven by its provision of casual footwear during the pandemic though the firm’s CEO, Andrew Rees, has noted “global logistics here in the first quarter are really challenging” as port congestion continues. U.S. seaborne imports linked to the firm surged 39.5% higher year over year in December and have jumped by 293% in January, potentially including the clearance of congestion. Other casu...

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