Niwot-based footwear model Crocs is closing its company-owned manufacturing amenities and changing its chief monetary officer, based on data supplied as a part of the corporate’s quarterly earnings report.
“In reference to ongoing efforts to simplify the enterprise and enhance profitability, in the course of the second quarter (of fiscal 12 months 2018, which ended June 30), the corporate closed its manufacturing facility in Mexico and moved forward with plans to shut its final manufacturing facility, which is situated in Italy,” based on a information launch that accompanied the earnings announcement.
Through the quarter, the closures resulted in non-recurring prices of $7.1 million. For the complete 2018 fiscal 12 months, the price of closing the amenities is predicted to be about $14 million.
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