Crocs Only Top Shoe Brand to See March and April Sales Rise

Crocs was the only top shoe brand to post higher sales in both March and April, a media report says.
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Crocs  (CROX) - Get Report shares rose Tuesday after a report said it was the only top footwear brand to enjoy rising sales in both March and April.

NPD Group tracks 30 footwear brands, and it found that Crocs posted a 14% sales increase from March 2019, according to The Wall Street Journal.

That made the shoe brand one of the few retailers to avoid getting their sales decimated in March by the coronavirus pandemic.

Crocs are made out of foam plastic footwear and are famous “for being easy on the feet if less so on the eyes,” as the Journal puts it. 

“For some, Crocs are the perfect shoes to wear when no one can see you wear them. For others, a pair of the colorful clogs is a fashion statement.”

Crocs and sheepskin-boot-maker Ugg were the only two shoe sellers on NPD’s list to report climbing sales in April, when many retail stores were shuttered.

Other signs of strength for Crocs reported by the Journal: Google  (GOOGL) - Get Report searches for Crocs touched a 15-year high in April, and the shoes have come back to Amazon's  (AMZN) - Get Report bestseller lists.

Meanwhile, when it comes to athletic footwear, Nike  (NKE) - Get Report is the gold standard.

“Nike, the largest athletic footwear brand in all major categories and in all major markets, dominates categories like running ... and basketball … with well-known brands like Jordan, Air, and Pegasus,” Morningstar analyst David Swartz wrote in a commentary.

Crocs stock recently traded up nearly 10% at $29.34.. It has dropped 15% over the past three months. Nike shares rose 3.5% to $96.98.

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