Crocs to close all manufacturing facilities, CFO resigns

The last Croc Inc.’s manufacturing facilities will close, the company announced.

Crocs leaders did not give information on how it will continue producing its products. The company grew its second-quarter earnings and revenue by 4.7 percent year-over-year. However, Crocs Inc. is operating fewer stores.

The company has not said if it plans to close more stores in the U.S. It expects revenue to increase, in the single digits, by year’s end.

The cost of closing the manufacturing facilities in 2018 is $14 million.

Croc’s Inc.’s chief financial officer, Carrie Teffner, plans to resign from the company effective April 1, 2019. Anne Mehlman will take her place. 

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