Crocs closing last of manufacturing facilities, CFO resigning

Crocs closing last of manufacturing facilities, CFO resigning

Casual footwear company Crocs is closing company-owned manufacturing plants in Italy and Mexico by the end of the year and replacing its chief financial officer.

Carrie Teffner, Executive Vice President and Chief Financial Officer, has announced her intention to resign from Crocs effective April 1, 2019.

The company has already started wrapping things up in one of its facilities in Mexico, and they plan on shutting down the remaining in Italy.

But experts and the company itself have brought clarity to the ruckus: Crocs has confirmed via a tweet - and in a email exchange with FN - that it is not going away.

Still, Croc stans took to Twitter to express their outrage, betrayal, and sadness about the Croc-pocalypse.

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In a news release Tuesday, the company announced no immediate plan into how it will continue to manufacture its products.

The announcement of the manufacturing closures comes alongside the companys second-quarter earnings report, which showed the company grew its earnings and revenue by 4.7 percent compared to past year.

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

"While accurate, some people have interpreted that to mean that Crocs will no longer be making and selling shoes. Our future is bright, bold and colorful".

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