Likefolio’s Andy Swan comments on the Piper Sandler teen survey showing a drop off in popularity for Crocs, along with Nike (NKE) and Converse. He thinks a “generational shift” is going on, with web visits and stock price both dropping. Andy discusses the cyclicality of fashion, and emphasizes that Likefolio’s international data is limited, even as Crocs seeks to expand abroad. He also talks about whether their acquisition of HEYDUDE has failed to meet expectations.