Crocs (CROX, Financial) was the second-best contributor to overall portfolio performance, up more than 100% as management indicated a faster than anticipated recovery in certain regional stores, while digital sales were robust in youth and Star Wars products. Simply stated, the company was on trend with relaxed footwear for the stay-at-home consumer. Crocs also outlined its COVID-19 safety efforts at distribution centers, while shoring up balance sheets and reducing capital expenditures in the near term.
From Bernard Horn (Trades, Portfolio)'s Polaris Global Value Fund second-quarter 2020 shareholder letter.
