Diamonds and Dogs
Croc's (CROX) jumps 7% to a new 52 week high on earnings. Croc's easily beat estimates as revenue rose 61.1% to $945.16 million thanks to strong growth in sandals and from international sales. Sandals are expected to be the fastest-growing product category in 2023 with sales reaching $400 million. Internationally, Crocs expects strong sales with plenty of room to penetrate and grow.
Boston Beer (SAM) continues o struggle. The owner of Samuel Adams and Truly Hard Seltzer is down 14% after reporting a quarterly loss as full year 2022, sales by its distributors to retailers such as grocery stores lipped 6% on a 52-week comparable basis from the previous year. Most of the weakness is coming from the hard seltzer category as consumer demand continues to change.
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