Tuesday, March 04, 2025 | 03:37 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Crocs to outsource manufacturing of clogs, other footwear

Image

AP Niwot

Colorado-based footwear company Crocs Inc is closing company-owned manufacturing plants in Italy and Mexico by year's end and replacing its chief financial officer.

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 USD 30.4 million, or 35 cents per share.

Crocs is also closing less productive retail stores as leases expire and focusing more on online sales.

Executive vice president Carrie Teffner will leave the company by next April, but is stepping down as CFO on August 24.

Anne Mehlman, a former vice president of corporate finance for Crocs and current CFO of Zappos, will take over as CFO.

 

Crocs shares were trading at USD 18.70 at mid-day Thursday, compared to USD 8.50 on August 9, 2017.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 10 2018 | 12:50 AM IST

Explore News