With inflation raging and consumers adjusting their spending to account for higher basic costs of living, one might expect a company like Crocs (CROX 0.95%) to be doing poorly. The foam clogs company is holding its own, though, continuing to grow sales while maintaining exceptional profit margins.
Crocs — including its new brand, Hey Dude, which it acquired early this year — also raised its outlook for full-year 2022. Nevertheless, even after a post-quarterly report stock pop, the shares are still down well over 50% from a year ago. Is now the time to buy Crocs stock?
How Crocs beat inflation and the dollar
Crocs’ total revenue increased 57% year over year in the third quarter to $985 million, easily sailing past its own expectations for sales to be as much as $955 million. This came in spite of ongoing inflationary pressures as well as a record run-up in the U.S. dollar (a side effect of the U.S. Federal Reserve’s…
