Drew Barrymore boosts ailing Crocs
17/05/2017
Its shares surged 17% on the news, according to Reuters, following a marketing campaign that featured actress Drew Barrymore.
The company has suffered declining sales the past few years, including a 5% dip last year, and announced in March that Mr Ribatt would be leaving.
He said: “We are moving rapidly to implement our reduction plan, and in connection with that initiative, we closed a net 16 stores during the first quarter of 2017 and signed agreements to transfer 24 to distributors during the second quarter."
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