In the premium templates on ThemeForest, I see that many templates adopt this method to clearfix:
.clearfix {
height: 1%;
}
And add the class clearfix to various elements.
Why height 1%? Is a good way?
Your theme includes that class for compaitibility with Internet Explorer, which is a good thing.
https://css-tricks.com/snippets/css/clear-fix/
https://perishablepress.com/lessons-learned-concerning-the-clearfix-css-hack/
Setting the height explicitly is the safest (read not the cleanest) way to clear floats. In the themes, the actual clearfix implementation would use :after pseudo selector to clear floats. However the :after property is not supported in IE6/7. Thus, height: 1% is specified. Which works in IE6/7.