Outdoor financials: Crocs to pay EPA fine for false antimicrobial claims, plus Acorn acquired by Totes Isotoner, Luxottica

Crocs (Nasdaq: CROX) has agreed to stop claiming some of its shoes contain antimicrobial properties and to remove that language from its packaging, according to the U.S. Environmental Protection Agency. Plus, Acorn acquired by Totes Isotoner and Luxottica reports buying 144K shares in buyback plan.
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Crocs to pay EPA fine for false antimicrobial claims

Crocs (Nasdaq: CROX) has agreed to stop claiming some of its shoes contain antimicrobial properties and to remove that language from its packaging, according to the U.S. Environmental Protection Agency. It also agreed to pay a $230,000 fine to the EPA to resolve cases involving those claims, regulators added.

The EPA said several styles of shoes made by Crocs included “unsubstantiated health claims on product packaging in violation of the Federal Insecticide, Fungicide, and Rodenticide Act. The company’s advertisements and website also contained similar claims, the EPA said.

“EPA will take action to protect the public against companies making unverified public health claims,” Jim Martin, EPA’s regional administrator in Denver, said in a statement. “Unless these products are registered with EPA, consumers have little or no information about whether such claims are accurate.”

The Insecticide, Fungicide, and Rodenticide Act says that products claiming to kill or repel bacteria or germs are considered pesticides, and must be registered with the EPA before being sold.

Acorn acquired by Totes Isotoner

Totes Isotoner said it has acquired Acorn, a slipper and comfort-based footwear brand based in Lewiston, Maine. Terms of the deal were not disclosed.

“The company’s passion for innovative design and comfortable, high-quality products makes Acorn a natural fit with our footwear business and Totes Isotoner,” said Doug Gernert, Totes Isotoner’s president and CEO. “We’re very excited to welcome Acorn to our company, and look forward to growing together in the years ahead.”

The deal is expected to increase Acorn’s global footprint and enhance its supply chain and operations capabilities.

Luxottica reports buying 144K shares in buyback plan 

During the month of December, Luxottica Group (NYSE: LUX), parent of Oakley, said it purchased 144,574 shares on the Milan Stock Exchange under the company’s buyback plan.

It paid an average unit price of EUR 21.69 per share (USD $29), for a total of EUR 3.1 million (USD $4.1 million).

In parallel, Luxottica Group's subsidiary, Arnette Optic Illusions, sold during the same period on the MTA an aggregate amount of 610,489 treasury shares, at an average unit price of EUR 21.86 per share (USD $29.23). The total was EUR 13.3 million (USD $17.8 million).

--Compiled by Wendy Geister

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