Crocs Inc. CROX rose 0.5% in premarket trades after the footwear company lifted its 2022 revenue growth forecast to 53% from its earlier estimate for growth of 49% to 52%. Crocs expects 2022 revenue of $3.55 billion, ahead of the Wall Street estimate of $3.51 billion, according to data compiled by FactSet. For 2023, Crocs is forecasting revenue of $3.9 billion to $4 billion, compared to the analyst estimate of $3.92 billion. Shares of Crocs are down 7.5% in the past 12 months, compared to a 28.8% drop by the Nasdaq COMP.
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