The clogmaker said that 2021 revenues will be up about 67% year-over-year, better than its previous guidance for 62-35% higher sales, despite continuing supply chain headwinds. Non-GAAP operating margin is expected to come in at nearly 30% for the year. Looking ahead to 2022, CROX sees core brand revenue growth of over 20%, plus an additional $700 to $750 million from Hey Dude. Non-GAAP operating margin for the Crocs brand is expected to be about 25%, with Hey Dude at 26%, despite an incremental $75 million of air freight compared to 2021.

Meanwhile, Moody’s weighed in on the Hey Dude acquisition, ... Log in to view full article.