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Shoemaker Crocs announced this afternoon that it expects to post top line results over $1 billion for the fiscal year ending December 31, 2011.The company forecast sales during the fourth quarter will be near the high end of earlier estimates for $205 million.
“Exceeding $1 billion in revenue in less than 10 years is a testament to the power of our global brand and the potential of our Company,” said John McCarvel, the company’s CEO. “Few companies in our industry have reached this milestone so quickly. As we begin our 10th anniversary year in 2012, everyone at Crocs can be proud of what we’ve achieved together, and we’re looking forward to the next 10 years.”
Crocs did not revise earlier estimates for net earnings, which it forecast to be between $0.03 and $0.05 a share, during its third quarter results.
Shares in the retailer are up more than 9% in after-market trading. The Crocs brand has ascended the retail landscape rapidly, even as editors and designers in the fashion industry lambasted its designs.
The Niwot, Colorado, firm, now sells more than 250 designs for men, women, and children.
Crocs will report fourth quarter results in late February.