After a boom in which it seemed everyone and their grandmother owned a pair of the wide, colorful Croslite Crocs, the company is in trouble. To turn things around, the company introduced different styles, including ballet flats and heels. Still, the company reports that net income fell 44 percent for the second quarter, it’s going to need to close as many as 100 of its 624 stores around the world and 183 people will have to be laid off.
“The company is now planning to cut back on its range of styles by 30% to 40%, as a result,” says Business Insider.
Now might be the time for Crocs to take a lesson from Birkenstocks: You can’t be successful if you can’t face the cold hard truth that the shoes you sell are ugly.