Crocs shares surge on raised forecast as HEYDUDE turnaround gains traction

Oct 29 (Reuters) Crocs shares surged about 27% on Thursday after the footwear maker raised its full-year forecasts, betting on a ​sustained recovery at its HEYDUDE brand ‌and steady demand for its namesake clogs. The upbeat outlook contrasted with a broader footwear sector that has been grappling with uneven consumer spending, elevated costs and ‌heavy ​competition for shoppers, forcing many ⁠brands to rely on ⁠promotions to drive sales. • The stock rose to $151.82, its highest in two years, and is set for the best day since 2018, ​if gains hold • The company forecast 2026 revenue growth of about 3%, up from ⁠its prior forecast of ⁠1% to 2%. • Crocs said HEYDUDE s turnaround ​gained traction on faster-than-expected orders from retailers as inventory ​sold quickly, helping its wholesale revenue climb ‌14% • We feel very confident that even in an inflationary environment that we ll be able to protect our profitability as we go forward, CFO ⁠Patraic Reagan said, adding that multiple