Crocs: in League of Its Own

Thanks to re-opening fueled optimism, apparel stocks have been gotten a huge boost in recent months…Based on the underlying LikeFolio data, apparel retailers and manufacturers still have a way to go before they’re back to “business as usual.”
The vast majority of apparel companies are still showing YoY demand weakness, with one notable exception -- Crocs (CROX). CROX’s Purchase Intent Mentions have risen unabated throughout the past year, currently +62% YoY on a 90-day moving average. Although Crocs Mentions are showing immense relative strength, our outlook is tempered by the +350% YoY gain in the underlying stock price.