Shoemaker Crocs Inc. is buying a company that makes decorations to snap into the holes of its clogs.
Crocs (NASDAQ: CROX) has signed a definitive agreement to buy the family-run Jibbitz LLC for $10 million in cash. Owners of Jibbitz also could receive as much as another $10 million based on the company hitting certain earnings targets.
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LennarÃƒÂ¯Ã‚Â¿Ã‚Â½s fiscal third quarter earnings came in at $1.30 a share, smack in the middle of the $1.25 to $1.35 a share the company estimated two weeks ago. Before that, Lennar had called for earnings of $1.90 to $1.95 a share. LennarÃƒÂ¯Ã‚Â¿Ã‚Â½s earnings per share are 37 percent lower than last yearÃƒÂ¯Ã‚Â¿Ã‚Â½s earnings of $2.06 a share.