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Crocs Stock Jumps 25% After Earnings Beat. Pokémon Clogs Are the Next Test
Crocs stock jumped more than 25% after a Q3 earnings beat. A Pokemon 30th anniversary clog pack now tests whether holiday demand holds up.
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Crocs shares climbed over a quarter on October 29, following a third-quarter report that exceeded analyst expectations and included a higher outlook. Management lifted its full-year profit forecast, crediting expansion in several brands and geographic markets. HeyDude, the casual shoe brand Crocs owns, went back to posting sales increases. Demand from abroad lifted the flagship label, whereas revenue in North America fell. Despite the gain, the share price remains roughly where it was five years ago. The company intends to release Pikachu and Gengar Classic Clogs, along with a Jigglypuff Platform Clog, on November 16 to celebrate Pokemon's 30th anniversary. The company expects faster growth in the holiday quarter, the next test of demand.
Why it matters: The Pokemon tie-in and the coming holiday-quarter results show how licensed collectibles and Pokemon card markets are attracting attention beyond their usual categories.
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