DENVER - Crocs Inc. has eliminated 183 jobs and plans to close or restructure up to 100 company-owned stores after a sharp decline in second-quarter profits.
The Niwot-based maker of resin-molded shoes made the majority of the job cuts Monday.
The company reported second-quarter operating income of $41.9 million -- down 17 percent from the same period in 2013. Net income to shareholders fell more steeply, dropping 45 percent to $19.5 million compared to the second quarter of 2013.
Revenue increased 3.6 percent to $376.9 million.
"Crocs' performance in the second quarter demonstrates the underlying potential of our global brand and business and the need for dynamic change in our strategy, organization and approach to the market," said Crocs President Andrew Rees. "Overall, revenue was in line with our expectations, and we have set a course for meaningful change going forward."