NEW YORK (TheStreet) -- Crocs (CROX) CEO John McCarvel will be retiring, a move announced Sunday, TheStreet's Debra Borchardt reported. The company also released guidance at the lower end of the previous range. Fourth-quarter guidance was estimated to be $220 million in sales and a loss per share of 23 cents.

Despite this news, Crocs shares have jumped over 16%. Why? Perhaps because the company also announced that Blackstone (BX) would be taking a $200 million position in the stock, Borchardt said. The fees for its involvement will likely be between $45 million to $52 million. 

Still, after several years of underwhelming performance, investors are cheering the management shakeup and prospects of a brighter future, even at today's expense, she added. 

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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