Crocs closing manufacturing facilities but will keep making shoes

By Peter Martinez

369891_060_ss_01Crocs sparked a minor panic among fans of its colorful plastic clogs by announcing on Wednesday that the company is closing the last of its manufacturing facilities. But mule-lovers can rest easy — the footwear maker isn’t going out of business. Rather, Crocs — which is profitable — is closing factories and shutting some stores in a move to cut costs and boost earnings.

Wall Street is pleased. Crocs shares, which have risen 49 percent this year, nosed up further on Thursday.

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