Six months after receiving a $200 million investment by the Blackstone Group and after six weeks with an interim CEO in former Reebok exec Andrew Rees, Crocs is making major changes to its business and strategic direction. The intended developments were detailed with the company’s Q2 earnings’ announcement when CROX net income declined 34% to $23,277,000 from $35,356,000 for the period ended June 30. Revenues rose 4% to $376,920,000 from $363,827,000, but gross margin slid 150 b.p. to 53.7%. Backlog was up $45 million to $206 million as the company began moving more of its business in Europe and Japan ... Log in to view full article.