Crocs Calling It Quits: Closing Factories, CFO Resigns

You can learn a lot from a company's quarterly earnings report to its shareholders, for example, the closure of all manufacturing facilities and the resignation of a high-level official.

Crocs, a Colorado based company, just announced that it will close all its manufacturing facilities in Mexico and Italy.  Plus, their Chief Financial Officer is resigning.

This seems crazy, because they just announced that they would be releasing a new Crocs high heel line.

The company hasn't released any information on how it intends to manufacture Crocs in the future after the closures. Also, there's no word on if this will affect their brick and mortar retail locations.

Crocs officials said that these moves are "in connection with ongoing efforts to simplify the business and improve profitability."