Crocs To Close All Remaining Manufacturing Facilities, Executives Resign

August 10, 2018
Crocs, Shoes, Pile

Could this be the end of Crocs?

We know the majority of you are cheering right now, but while maybe not the most appealing shoe to look at, Crocs have found their place for people who want a casual slip on that are comfortable and durable.  However, the company just announced their intention to close their remaining manufacturing facilities, one in Mexico with another in Italy to shortly follow.  

However, Crocs say they have NO plans to cease production and have no intention of shutting down business for good.  Crocs even announced Carrie Teffner, executive vice president and chief financial officer, will be resigning effective April 1, 2019, though her position will be filled by Anne Mehlman, from Zappos shoes.  

Last quarter, Crocs closed 28 of its retail locations, but according to reports, shares of the company have climbed 43% since the beginning of the year, while the stock itself has more than doubled in the last 12 months.

We're not sure how they're going to keep producing new shoes, but they've repeatedly said they aren't going anywhere.

Via CBS News