Crocs says it's closing manufacturing facilities; executive to resign

11 August, 2018, 23:30 | Author: Regina Silva
  • Crocs store

Crocs Inc. said it's closing a manufacturing facility in Mexico and said it also plans to close its last manufacturing facility in Italy.

In addition, executive vice president and CFO Carrie Teffner will step down in the coming weeks for another role in the company.

But experts and the company itself have brought clarity to the ruckus: Crocs has confirmed via a tweet - and in a email exchange with FN - that it is not going away.

The company did not say how it will continue making the products.

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Social media users took to Twitter to declare that the Croc apocalypse was upon us.

The company announced the outsourcing of additional manufacturing and the closure of a distribution facility in Mexico Tuesday while reporting a second-quarter profit of $30.4 million, or 35 cents per share.

The Crocs shoe manufacturer has announced that its closing its manufacturing facilities. We're extremely grateful, but not surprised that our passionate fans are rallying around the brand today.

"About 60 percent of Crocs's products are produced by two factory partners in China and Vietnam [run by third-parties]", Sam Poser told the website. Last March, Crocs said it will close about 160 of its 558 retail stores by the end of 2018.

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