Jun. 30 at 5:41 PM
$CROX $JD $DKS Crocs Inc stock slumps, but BofA sees global upside, CROX is down 30 % over 12 months as U.S. sales slow — “almost everybody” already owns a pair, said the CEO. But BofA sees growth abroad, especially in Western Europe, China, and India, where market share is still under 2%.
China is now 6% of sales, with K-drama and Bollywood marketing boosting visibility. Despite macro risks, BofA kept a buy rating but cut the price target to
$135 from
$140.U.S. retailers remain cautious. BofA trimmed demand forecasts for Crocs and Heydude (acquired in 2022), but sees modest direct-to-consumer growth. Clean inventory remains a priority. Key retail partners: JD, JDSPY, CAL, DKS.
