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🦧 hey dude

Ape of Omaha
Nov 4, 2022
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🦧 hey dude

www.wiseape.fyi
click logo above for 50% off!

icymi: CROX 0.00 (crocs inc.) made an acquisition

  • back in february, crocs acquired heydude, a then privately-owned casual footwear brand, for $2.5b

  • heydude’s line of products allowed crocs to expand its portfolio of footwear products

 

initial reactions

  • upon news of announcing the acquisition, crocs shares tumbled 11.6% (back in dec. ‘21)

  • potential reasons being:

    • a whopping $2.05b out of the $2.5b acquisition was to be paid for with cash

    • investors were fretting over the deal, doubting how much synergy could come out of the rubber clog and heydude’s casual comfy shoes could have

 

$2.5b was worth it

  • CROX 0.00 shares rose 14% today after a expectations beating q3 earnings report

  • revenue rose 57% year-over-year, thanks to heydude

    • crocs brand only took up 72% of total revenue, as heydude brought in $270m in q3 only

  • crocs forsees that the revenues of its hey dude arm should surpass $1b in 2023

 

happy thursday!

💡 something im thinking about

just exactly how bad is meta going? (click image)

that's all, folks 🐒

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