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Crocs to outsource manufacturing of clogs, other footwear

AP  |  Niwot 

Colorado-based company Inc is closing plants in and by year's end and replacing its

The company announced the outsourcing of additional and the closure of a distribution facility in Tuesday while reporting a second-quarter profit of USD 30.4 million, or 35 cents per share.

is also closing less as leases expire and focusing more on

will leave the company by next April, but is stepping down as on August 24.

Anne Mehlman, a former vice president of for and current of Zappos, will take over as

Crocs shares were trading at USD 18.70 at mid-day Thursday, compared to USD 8.50 on August 9, 2017.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 10 2018. 00:50 IST
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