Crocs hit with $19m loss after China errors
03/03/2015
Footwear brand Crocs has been left with a $19 million loss on sales of $1.2 billion for 2014 after overestimating demand in China.
New CEO Gregg Ribatt said while the company has made “significant progress” on a turnaround plan initiated in July, it still faced “a number of challenges”.
“Some of which we can't influence, such as the strong US dollar and the speed of recovery from the slowdown at the West Coast ports,” he said. “Others, we can most definitely improve upon, such as the ongoing challenges in our China business.”
Share this story:
