2024-01-08 13:17:11
Jan. 8 – ** Shares of Crocs CROX.O rose more than 8% to $93.50 premarket following the rubber clog maker raised its fourth-quarter sales forecast
**The company now expects fourth-quarter revenue to increase more than 1%, compared to previously forecasting a decline of 1% to 4%, due to a successful holiday season
**The company adds that it saw market share gains for the Crocs and Heydude brands during the holiday season
**CROX also provides preliminary forecasts for 2024, projecting revenue growth of 3% to 5%; analysts expect 4.4% increase, LSEG data shows
**The company expects adjusted operating margins of approximately 25% for 2024
**Yoga clothing maker Lululemon Athletica
LULU.O and clothing chains Abercrombie & Fitch ANF.N and American Eagle Outfitters AEO.N also raised their guidance for the holiday quarter due to strong demand
**CROX shares have fallen ~14% over the past 12 months
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