Crocs CEO Andrew Rees continues to lead one of the hottest footwear brands on the planet, a brand founded in 2002 that has seen its fair share of peaks and valleys in consumer adoption.
Rees tells Yahoo Finance Live the company is still firing on all cylinders for several reasons, besides just inking buzzy partnerships with an influencer such as Justin Bieber and high-end fashion brand Balenciaga.
"It's comfortable [the shoes], it's easy on and off. It's lightweight, so it's very easy to wear and it appeals to that major comfort trend that is going on. Number two, we add a great deal of excitement and inspiration to the brand through the collaborations. And then I think thirdly is the international nature of the brand. We are already in 19 countries around the world, and so we penetrate into those markets," Rees explained.
To be sure, all of these factors played a role in Crocs' latest quarter.
Second quarter sales surged 93.3%. Adjusted gross profit margins rose 660 basis points on the back of strength in core clog shoes and sandals and higher prices. Adjusted operating profits popped 166% from a year ago. Sales in the Americas division spiked 135.8%. Sales in Europe and Asia rose 52.6% and 27.1%, respectively.
Here is how Crocs performed compared to Wall Street analyst forecasts for the second quarter:
Net Sales: $640.8 million vs. $566.9 million
Diluted EPS: $2.23 vs. $1.59
Shares of Crocs have exploded 249% over the past year, dusting the S&P 500's paltry 34% gain. The stock has beat down several other footwear rivals, too.
Yahoo Finance Plus data shows Crocs has handily outperformed Nike, Under Armour, and Sketchers during the last 12 months. The largest relative outperformance for Crocs has been against Nike — shares of the industry giant are up 67% in the past year.
Wall Street mostly remains bullish on Crocs despite the material stock price advance that has pushed up the company's valuation to decade highs.
Pivotal Research analyst Mitch Kummetz reiterated a Buy rating on Crocs with a $155 price target. The analyst highlighted the potential for Crocs to have a strong back-to-school season as kids return to classrooms as one key bullish factor.