Remember when folks were writing off Crocs (Nasdaq: CROX ) as a fad? That theory seems to have about as many holes as the company's flagship resin shoes.
Shares of the footwear maker moved higher, with Crocs raising its guidance for the holiday quarter. Overseas growth and expansion into new product areas will probably push the company past $1 billion in annual sales for the first time in its history.
Crocs had gone public around the same time Heelys did, and cynics loved to lump Crocs in with the maker of rolling footwear for kids. Heelys is still around, though it's not as prolific as it used to be. Safety risks and the trendy nature of its flagship design haven't helped. But while Crocs had gaudy-looking shoes, they were too comfortable to ignore.
Crocs is getting the last laugh.
Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.
- Barrington Research set a $3 price target for Sirius XM Radio (Nasdaq: SIRI ) , encouraged by the satellite-radio giant's momentum. Yes, this was the same stock that bottomed out at $0.05 three years ago.
- Research In Motion (Nasdaq: RIMM ) demoed its new PlayBook operating system during this week's Consumer Electronics Show. The platform will feature Android support, giving PlayBook owners access to more apps. It's an Android world we live in.
- Netflix (Nasdaq: NFLX ) launched its streaming service in the U.K. and Ireland. The video service doesn't plan on rolling out in a new territory until it turns a profit -- or can make a beefeater chuckle.
Until next week, I remain,
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