Crocs’ multi-year realignment in which it closed stores, converted unprofitable foreign markets to distributors and boosted margins by tightening distribution and inventory management has positioned it for long-term profitable growth, it told investors at the Stifel conference. The efforts were also designed to reduce SG&A by $75 to $85 million, with most of that coming from shrinking the store base by 160 stores by the end of 2018. The restructuring helped drive a better-than-expected profit in Q1 with improved gross margin and lower inventories, and is on track to be completed this year.

On the product side, Crocs has trimmed down ... Log in to view full article.