Crocs closes its last plants, but will continue making shoes

located in Italy, was also announced on a date that was not specified.

Crocs has announced that it will close its last two plants
Crocs has announced that it will close its last two plants

The Crocs shoe company, headquartered in Colorado, shut down its plant in Mexico. The closure of its last plant, located in Italy, is also scheduled to close on a date that was not specified.

In a statement, the company said it made the decision to “simplify its business and improve profitability.”

Crocs, however, ensures that it does not terminate its business activities, without specifying how it intends to continue manufacturing its products.

The shoe manufacturer, which employs more than 4,000 people worldwide, does not mention how many employees will be laid off.

The company earned profits of 30.5 million US dollars in the second quarter.

A rationalization of its activities

Crocs has also begun closing less profitable retail stores to focus more on online sales.

In March, the company said it would close about 160 of its 558 retail stores by the end of the year, according to the Denver Business Journal .

Crocs shares traded at $ 18.70 on Thursday, compared with $ 8.50 a year earlier.

The company also announced the departure of its executive vice-president, Carrie Teffner, who will be replaced at the end of the month by Anne Mehlman. The new executive, currently the chief financial officer of the Zappos shoe and apparel business, has previously served as Crocs’ vice president of finance.

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