Dive Brief:

• Niwot, CO-based shoe retailer Crocs is closing some 100 stores worldwide and laying off 180 employees, about half at its headquarters.

• The retailer is also going to convert some of the stores it runs to third-party operations and will discontinue many styles, especially more fashionable ones, that were part of its expansion over the past decade.

• The company reported Q2 profits decreased 44% to $19.7 million, while revenue increased 3.6% to $376.9 million.

Dive Insight:

A decade ago, Crocs were all the rage among people of every age, and in those next ten years the company expanded not only its global reach, but also its products' styling. Now the company says it must get smaller and a bit less ambitious to become profitable again. It probably doesn’t help that the iconic sandal, the Birkenstock, has staged a recent “fashion” comeback. There’s probably only so much room in town for comfort-shoe trends.