Cult footwear brand Crocs is expecting significant revenue growth for last year amid positive results during the holiday season.

The company is forecasting revenue of $3.95 billion for FY23, up 11 per cent from the previous year.

Crocs anticipates revenue of its core Crocs brand to have risen almost 10 per cent while its Heydude line fell by 19 per cent during the three months.

“Last year was a strong year for Crocs, Inc that culminated in a successful holiday season with market share gains for both brands,” said Crocs CEO Andrew Rees. “Fourth-quarter revenue is now expected to exceed our former guidance and we are raising our operating margin target for the year.”

“We are coming into 2024 from a position of strength and are making the decision to reinvest our best-in-class margins into focused strategic investments as we continue to set ourselves up for long-term, durable growth.”

The company expects FY24 revenue to increase 3 per cent to 5 per cent from last year, with the Crocs brand climbing 4 per cent to 6 per cent and Heydude remaining somewhere between flat and “slightly up”.