Friday, May 29, 2009
Crocs on the mend?
Earlier this month Crocs reported a loss of $22.4million US in the first quarter (last year they only lost $4.5 million in that period). The company, now under the new directorship of John Duerden as president and CEO are poised to recover their losses by laying off employees and refining the Crocs's signature injection-molded technology. The company will continue to expand their global markets in Japan and Southeast Asia but have shelved the introduction of a new line of Crocs apparel and the higher-end You by Crocs line of shoes are also on hold.