Crocs Announced Important Financial Details and Herbalife Nutrition Adjusted Their Outlook 📉
Crocs Announced Important Financial Details and Herbalife Nutrition Adjusted Their Outlook
Crocs is an iconic footwear company located in the suburbs of Denver, Colorado. They sell casual footwear, with their most famous one being a shoe/slide hybrid with “crocodile” holes all over it. They are one of the more valuable footwear companies with a market cap of $9.139 billion.
On Tuesday, Crocs had a couple of announcements to make. They expect to bring in revenue of about $5 billion by 2026, while also announcing a new bio-based Crocs shoe that looks to be their first step in becoming carbon neutral. Lastly, they announced a new buyback goal of $500 million by the end of the year, which is very important. All this news led to Crocs closing the day at $149.38, up 8.47%.
Herbalife Nutrition is a food company that specializes in nutrition products for everyday citizens through things like weight management products. They are in Los Angeles, California, and they have a market cap of $4.945 billion. You might’ve heard of them due to their scuffle with Bill Ackman and their links with Carl Icahn.
On Tuesday, Herbalife adjusted their outlook for the coming quarter, and it was for the worse. Due to uncertainty about the pandemic, they adjusted their earnings expectations to $1.05, which is a 5-cent decrease, and a decrease in revenue too. They also noted that their independent distributors had less activity, meaning their products weren’t being sold as much. At the end of Tuesday, Herbalife closed at $42.78, down 21.13%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.