Crocs, Inc share Continue to Move Higher

Shares of Crocs, Inc (NASDAQ:CROX) moved up 9.41% to $15.82 after the company issued fourth quarter guidance above the analysts' estimates on Thursday after tagging a fresh 52-week peak of $15.94. Volumes are on the higher side with 8.86 million shares have already traded, compared to its average volume of 3.13 million shares. Today's gains might be due to the fact that the Company posted better than expected third quarter 2010 profits of $25 million, or 28 cents per share late Thursday, compared to $22.1 million, or 25 cents per share, in the same quarter last year. This result is driven by growing consumer demand. Revenue jumped 30 percent to $215.6 million from $177.1 million last year. Web Sales rose 19.3% to $19.2 million from $16.1 million. Retail sales increased 34.5% to $72.5 million from $53.9 million. Wholesale sales increased 16% to $123.9 million. For the fourth quarter, analyst expects the profit of 2 cents on revenue of $165 million, a 21% increase over fourth quarter 2009, with a 10% dip inventory. The guidance is above the Reuters estimates that expect EPS of $0.01 on revenues of $158 million for the fourth quarter of 2010. Moreover, Year-to-date, Crocs shares have almost tripled, spurred by a more than yearlong restructuring aimed at reducing the Colorado company’s reliance on just sales of its original colorful clogs and is trading above its 50 day & 200 day moving average of $13.43 & $11.79. So far this year, the stock is up about 175.13% and has a market capital of $1.37 billion. Crocs, Inc. is a designer, manufacturer, distributor, worldwide marketer and brand manager of footwear for men, women, and children.
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