The Co announced an agreement to acquire Bite Footwear for as much as $3.5 million should Bite hit earnings targets. Crocs will implement its proprietary Croslite into Bite's products. Also, at the WSA trade show in Las Vegas, Jibbitz will unveil a new line of customizable hand bags and messenger bags. Jibbitz is entirely owned by Crocs. As usual, Crocs CEO Ron Snyder and his board aren't about to sit still. Ever. They're in acquisition mode 24/7, and Crocs will continue to increase earnings thanks to a highly effective distribution system.
CROX is trading up 1.4% to $56.51 in pre-market action.
Pupule Paul is long CROX.
