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July 22, 2014

Footwear maker Crocs Inc., best known for its colorful plastic clogs, announced a major restructuring that includes closing stores and job cutbacks.

New York -- Footwear maker Crocs Inc., best known for its colorful plastic clogs, announced a major restructuring that includes closing stores and job cutbacks.

The plan comes on the heels of the company's disappointing second-quarter earnings results. Earlier this month, Crocs reported that second-quarter profit fell 44% to $19.7 million.

January 28, 2013

Barnes & Noble is planning to shutter approximately one-third of its stores during the next 10 years, CEO Mitchell Klipper said in an interview with the Wall Street Journal.

New York -- Barnes & Noble is planning to shutter approximately one-third of its stores during the next 10 years, CEO Mitchell Klipper said in an interview with the Wall Street Journal. As of Jan. 23, the company operated 689 stores. (The company also operates a separate division of 674 college book stores.)

“In 10 years we'll have 450 to 500 stores,” said Klipper in the interview, who noted that, even with the reduced store count, “it’s a good business model.”