Crocs to outsource manufacturing of clogs, other footwear
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According to a report, 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 US $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.
Questions & Answers
Q.What operational changes is Crocs making in its retail strategy?
What operational changes is Crocs making in its retail strategy?
Crocs is outsourcing additional manufacturing, closing a distribution facility in Mexico, and shutting less productive retail stores as their leases end, shifting focus to online sales.
Q.When is Carrie Teffner leaving her role as CFO and who is replacing her?
When is Carrie Teffner leaving her role as CFO and who is replacing her?
Carrie Teffner is stepping down as CFO on August 24. Anne Mehlman, formerly a Vice President of corporate finance for Crocs and current CFO of Zappos, will take over.
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