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CROX - Crocs Inc News Story

$38.59 1.1  2.8%

Last Trade - 07/08/20

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.99bn
Enterprise Value £2.09bn
Revenue £910.6m
Position in Universe 1618th / 6395

BUZZ-Crocs Inc: Falls on forecast of coronavirus impact to FY20 sales

Thu 27th February, 2020 1:24pm
** Shares of Crocs Inc  CROX.O  drop 9% to $30.80 premarket
on weak sales forecast, hurt by coronavirus outbreak
    ** Company sees FY sales growth range between 8% and 12%,
compared with analysts' est. of a 12.4% rise, according to
Refinitiv IBES data
    ** Expects 2020 revenue to take $40 to $60 mln hit due to
disruptions to its Asia business from the fast-spreading virus;
half of that hit to be in Q1 
    ** Despite this difficult situation, we continue to be very
optimistic about our long-term growth prospects in China and our
Asia region - CEO
    ** Company's Q4 revenue, profit tops est
    ** Up to Wednesday's close, stock had lost 19% YTD

 (Reporting by Aishwarya Venugopal in Bengaluru)
 ((Aishwarya.Venugopal@thomsonreuters.com; within U.S.
+1-646-223-8780; outside U.S. +91 80 6749 2830;))
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