The clogmaker and Heydude parent said it expects to reduce gross leverage to below 2x by June 30, in a round table discussion at Baird’s 2023 Global Consumer, Technology and Services Conference. That will allow it to resume share repurchases, which it had suspended to prioritize paying down the high yield bonds used to finance its Heydude acquisition. CROX will still aim for a long-term 1.0x to 1.5s leverage target, using its free cash flow for a balance of debt repayment and share purchases.

On the operations front, Crocs says its on ... Log in to view full article.