Post Malone Helps Croc Sales Soar in Third Quarter

The last thing you would imagine when you think of the hottest shoes on the market right now would be a pair of Crocs.

However.. with the help of musical star Post Malone, Crocs are in demand. The company has partnered with the rapper who has said, “If you like something, go get it. I wear Crocs everywhere from the bar to the stage and I felt it was the perfect collaboration to get together with Crocs and give the fans what they’ve been asking for.”

The Chicago-born rapper’s banana-yellow design clogs that were on him in a recent picture fetch for a price of $59.99 and have already sold out. The company said it would be restocking inventory soon though.

Crocs reported a strong third quarter financial report on Thursday and also raised its full-year guidance.

Andrew Rees, president and CEO, said on the company’s earnings call, “We had one of the best third quarters in the last couple of years.”

For the quarter, Crocs saw revenue of $261.1 million, a jump of 7.3% year over year. Net income was $6.5 million, or 7 cents a share. Analysts were expecting a loss of 1 cent a share.

The company also raised its full year guidance and now expects revenue to jump 4 to 5%.

Crocs also has other celebrity endorsers including Drew Barrymore, John Cena and South Korean singer Yoona.

Disclaimer: We have no position in Crocs, Inc. (NASDAQ: CROX) and have not been compensated for this article.