Crocs jumps on Blackstone investment, CEO leaving
NEW YORK (MarketWatch) — Shares of Crocs Inc. jumped 13% on Monday after the plastic-clog maker said private-equity firm Blackstone is investing 0 million in the company through the purchase of newly issued preferred stock, giving it a 13% stake. The company also said its President and CEO John McCarvel will retire around the end of April. Crocs also said fourth-quarter sales and profit will be at the low end of its previously provided guidance range.
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