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00:02Crocs CFO Patrick Reagan spent his first year in the role executing an aggressive plan
00:08to stabilize the footwear company after bloated inventory
00:11and slowing sales pressured the business, according to the Wall Street Journal.
00:15Crocs cut back on discounts, removed some products from shelves,
00:19and reduced availability rather than relying on broad price cuts.
00:22The company also addressed aging hey-dude inventory by buying back products for liquidation
00:28or helping retailers discount them.
00:31Crocs reduced shipments of its classic clogs to North American wholesalers
00:35and pulled back promotions across both brands.
00:39Crocs is now seeing benefits from tighter inventory controls,
00:42more full-price sales, and new styles.
00:45For all things money, visit Benzinga.com.
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