Crocs, Inc. Pauses Business Operations and Importation of Goods in Russia
Crocs, Inc. (NASDAQ: CROX) announced on March 9, 2022, the suspension of its direct-to-consumer operations in Russia, including e-commerce and retail, due to the ongoing war in Ukraine. The company is committed to supporting its employees in Russia who will continue to receive wages during this period. Crocs has also paused the import of goods into the country and donated to UNICEF to aid in humanitarian efforts for displaced families and children affected by the conflict.
- Continued payment for corporate and retail staff in Russia during business suspension.
- Donation to UNICEF to support humanitarian efforts in Ukraine.
- Pausing of all business operations in Russia may impact revenue.
- Suspension of imports into Russia affects potential sales.
BROOMFIELD, Colo., March 9, 2022 /PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX) announced this morning that it has made a decision to pause its direct-to-consumer business, inclusive of e-commerce and retail operations, in Russia. The company has also paused the importation of goods into the country.
Crocs is devastated by the tragic war in Ukraine and stands in solidarity with those impacted by and enduring this humanitarian crisis.
During this difficult time, the company remains focused on providing support to its colleagues in the region. In Russia, all corporate and retail staff will continue to receive pay during this pause.
"Comfort is needed now more than ever and we're pleased to make a donation to UNICEF to support those directly impacted by the war. Additionally, as a People Purposed organization, taking care of our employees remains a top priority," said Crocs Chief Executive Officer Andrew Rees. "While our decision to pause all business operations in Russia was decisive, our commitment to doing the right thing is unwavering. Our hearts are with all those enduring this crisis and we hope for a swift and peaceful resolution to the war in Ukraine."
Through Crocs Cares, the company has made a donation to UNICEF, a long-standing global partner. These funds will support UNICEF's on-the-ground humanitarian efforts with a specific focus on addressing the needs of displaced children and families throughout the region.
About Crocs, Inc.:
Crocs, Inc. (Nasdaq: CROX) is a world leader in innovative casual footwear for women, men, and children, combining comfort and style with a value that consumers know and love. The Company's brands include Crocs and HEYDUDE and its products are sold in more than 85 countries through wholesale and direct-to-consumer channels. For more information on Crocs, Inc. please visit investors.crocs.com. To learn more about our brands, please visit www.crocs.com or www.heydudeshoesusa.com or follow @Crocs or @heydudeshoes on Facebook, Instagram and Twitter.
Investor Contact:
Cori Lin, Crocs, Inc.
(303) 848-5053
clin@crocs.com
PR Contact:
Melissa Layton, Crocs, Inc.
(303) 848-7885
mlayton@crocs.com
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SOURCE Crocs, Inc.
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