home finance Crocs closed its plant production and distribution center in Mexico City of Mexico.-the brand Crocs Inc. announced the closing of its plant in p production and distribution center in Mexico. With this, the company will only stay with a last factory in Italy, but it also has plans to close it, as part of operations to obtain better income.
“In connection with the ongoing efforts to simplify the business and improve profitability, during the second quarter, the company closed its manufacturing facilities in Mexico and went ahead with plans to close its last manufacturing facility, who is in Italy”, he said in the press release which reported its quarterly financial report.
The Colorado-based firm provides now outsource the manufacture of footwear, as well as closing some of their stores less productive retail as leases expire and focus more on sales over the internet, said the Agency AP.
The company obtained profits of 30.4 million dollars in the second quarter of the year, or 35 cents per share, and revenue was 328 million dollars, 4.7% more than in the second quarter of 2017.
“This growth was achieved despite the loss of approximately 22 million dollars due to the operation of fewer stores and changes in the business model. E-commerce grew 23.8%, wholesale trade grew 7.2% and comparable retail sales increased 7.1%,”said Crocs.
Source: Forbes
