Crocs, the footwear retailer known for its clog shoes, reported revenue of $884.2 million for Q1 2023, a YoY rise of almost 34%, driven by strong brand strength and new product introductions. The Crocs brand saw a YoY increase in revenue of 19% to $648.8 million, while revenue for its HeyDude brand rose almost 105% YoY to $235.4 million. The company revised its Q2 and full-year guidance upward, with Q2 revenues predicted to reach $1.03 billion to $1.05 billion, an increase of 6% to 9% from the same period in 2022. Full-year revenues are expected to increase to $3.95 billion to $4.05 billion, representing a YoY consolidated revenue growth of 11% to 14%. Crocs also reported $125.7 million in cash and $550.7 million in available borrowing capacity.
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