Crocs isn't closing its business.

Crocs clarifies it’s closing some plants, not the business

NIWOT — Crocs Inc. (Nasdaq: CROX) is assuring customers that the casual shoemaker isn’t going out of business despite announcing in its second quarter earnings report it was closing the last of its manufacturing facilities.

Rather, the company released a statement saying it was shifting production to third parties.

“[T]here have been multiple media reports that Crocs is winding down production in our owned manufacturing facilities,” the company said in its statement said, as published by CBS News. “While accurate, some people have interpreted that to mean that Crocs will no longer be making and selling shoes. Quite the contrary, Crocs will continue to innovate, design and produce the most comfortable shoes on the planet. As we streamline our business to meet growing demand for Crocs, we’re simply shifting production to third parties to increase our manufacturing capacity.”

The Niwot-based shoemaker is also closing some stores and shifting to more online sales, a plan which has been in the works since 2014.

Crocs also announced in its quarterly report that CFO Carrie Teffner was leaving the company.

 


 

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