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Crocs to close all manufacturing facilities, CFO resigns

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The company's stocks have actually grown this year.



Croc Inc. will be closing its remaining manufacturing facility and its chief financial officer will resign.


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


In addition, executive vice president and CFO Carrie Teffner will step down in the coming weeks for another role in the company. She plans to leave Croc Inc. by April 1, 2019.



The last operating Croc Inc. manufacturer is in Italy, according to the release.


"In connection with ongoing efforts to simplify the business and improve profitability, during the second quarter (of fiscal year 2018, which ended June 30), the company closed its manufacturing facility in Mexico and moved ahead with plans to close its last manufacturing facility, which is located in Italy," according to the release.




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