Crocs to outsource manufacturing of clogs, other footwear

Image from MGN Online

Image from MGN Online

Croc Inc. will be closing its remaining manufacturing facility and its chief financial officer will resign. In a statement later provided to Mashable, a representative for Crocs said the company is "simply shifting production to third parties to increase our manufacturing capacity".

The release did not indicate a specific reason for Teffners departure.

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

On Tuesday, Crocs posted Q2 earnings that beat analysts' predictions across the board, leaning on double-digit e-commerce growth and solid wholesale gains to make up for its shuttered stores.

NCAA changes policies on draft, agents, recruiting; National Basketball Association reportedly 'blindsided'
If UTEP actively pursues some of these players, the staff might have to not only recruit the player, but also recruit his agent . The agent agreements must be in writing and will be terminated when the student enrols or returns to college.

Crocs said it closed 28 retail sales locations in the latest quarter, Denver Business Journal writes, which leaves the company with less than 400 locations globally.

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

They're a comfortable shoe option for those who spend hours on their feet at work, but Crocs have never been considered fashion-forward.

The company said it is "in connection with ongoing efforts to simplify the business and improve profitability".

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