Crocs store in New York City.

Michael Brochstein | SOPA pictures | LightRocket | Getty Images

Crocs stock rose more than 8% on Tuesday after the shoe maker increased its full-year sales outlook and posted record sales in the first quarter.

CEO Andrew Rees said global demand for the Crocs brand is “stronger than ever”.

Here’s how the shoemaker developed for the quarter ended March 31st, compared to analysts’ expectations based on data from a refinitive survey:

  • Earnings per share: $ 1.49 adjusted versus 89 cents expected
  • Revenue: $ 460.1 million versus $ 415 million expected

Crocs’ net income rose to $ 98.4 million, or $ 1.47 per share, for the first quarter, compared to $ 11.1 million, or 16 cents per share, last year. Without one-off adjustments, the company earned $ 1.49 per share, well above the 89 cents expected by analysts, according to Refinitiv.

Revenue rose a whopping 64% from $ 281.2 million last year to $ 460.1 million. This exceeded Street’s expectations for $ 415 million.

According to Crocs, digital sales increased 75.3% to 32.3% of sales compared to 30.1% in the same period last year.

For the second quarter, Crocs is now asking for revenue growth between 60% and 70% year over year.

For the year, an increase in sales of between 40% and 50% is now expected.

The full press release from Crocs can be found here.

This story evolves. Please try again.