July’s Gen Z Winners & Losers: Analysis across Restaurants, Brands, Retail, Travel (Callouts Include TPR, MTN, GME, LULU)

By David Schick and Jonathan Feeney and David Katzman and Jack Hermann Published on July 24, 2026 PDF

Gen Z traction and mix are critical leading indicators given long-term demographic share shifts – in July’s analysis of 115 companies across sectors we note TPR, RL, LULU, GME, RH, WYNN have notable divergences from the mean and median trends.

Summary: (1) TPR, RL, LULU lead Gen Z traction growth (Figure 1) with notable Gen Z inflection for names versus short interest; (2) GME, RH, WYNN have the notable lift in short interest paired but declining Gen Z traction; (3) GME, BROS, WING hold the highest Gen Z mix but are all inflecting negatively, while CMG, BJRI, SHOO are inflecting positively; (4) MTN, FIVE, ROST show the strongest positive inflections (Apr–Jun 2026 y/y vs. prior 3m trend); (5) MTN, DASH, ABG, VSXY, FIVE lead sector inflection in Travel, Restaurants, Autos, Apparel, and Retail respectively.

Top traction gainers: TPR, RL, LULU lead all 115 names in Gen Z traction growth (Figure 1), with TPR posting +195% Y/Y in 18-34 traffic alongside a +83% rise in short interest.

Short interest callouts: GME, RH, WYNN show the largest rises in short interest paired with declining Gen Z traction (see Figure 1).

Highest 18–34 mix: GME, BROS, WING (all three currently inflecting negatively), while CMG, BJRI, SHOO are inflecting positively (Figure 2). Strongest Gen Z traffic Y/Y growth: MTN, BJRI, BKE (Figure 3).

Strongest positive inflections (Apr–Jun 2026 y/y vs. prior 3m trend): MTN, FIVE, ROST (Figure 4).

Sector Leaders

Travel / leisure: MTN, VIK, WH leading on inflection; BYD, MAR, CHH leading on Y/Y growth.

Restaurants: DASH, WING, DPZ leading on inflection; SHAK, DASH, BJRI leading on Y/Y growth.

Automotive: ABG, PAG, VVV leading on inflection; ABG, RIVN, CVNA leading on Y/Y growth.

Apparel & golf: VSXY, UA, BKE leading on inflection; TPR, RL, LULU leading on Y/Y growth.

Retail: FIVE, ROST, DG leading on inflection; FIVE, DKS, OLLI leading on Y/Y growth.

All Companies

Figure 1: Change in Short Interest Ratio vs. Change in 18-34 Digital Traffic (Y/Y)

Source: Optimal Advisory analysis, Similarweb, Bloomberg

Figure 2: Top 10 Gen Z Traffic Mix Jun ’26 vs. Jun ’25

Source: Optimal Advisory analysis, Similarweb

Figure 3: Top 10 Gen Z Traffic Y/Y Gainers

Source: Optimal Advisory analysis, Similarweb

Figure 4: Top 10 Gen Z Traffic Inflections (Mar ’26 Y/Y → Jun ’26 Y/Y)

Source: Optimal Advisory analysis, Similarweb

Leisure, Accommodations, & Travel

Figure 5: Leisure, Accommodations, & Travel Gen Z Traffic Inflections

Source: Optimal Advisory analysis, Similarweb

Figure 6: Leisure, Accommodations, & Travel Change in Short Interest vs. Change in 18-34 Digital Traffic (Y/Y)

Source: Optimal Advisory analysis, Similarweb, Bloomberg

Restaurants

Figure 7: Restaurants Gen Z Traffic Inflections

Source: Optimal Advisory analysis, Similarweb

Figure 8: Restaurants Change in Short Interest vs. Change in 18-34 Digital Traffic (Y/Y)

Source: Optimal Advisory analysis, Similarweb, Bloomberg

Automotive

Figure 9: Automotive Gen Z Traffic Inflections

Source: Optimal Advisory analysis, Similarweb

Figure 10: Automotive Change in Short Interest vs. Change in 18-34 Digital Traffic (Y/Y)

Source: Optimal Advisory analysis, Similarweb, Bloomberg

Apparel & Golf

Figure 11: Apparel & Golf Gen Z Traffic Inflections

Source: Optimal Advisory analysis, Similarweb

Figure 12: Apparel & Golf Change in Short Interest vs. Change in 18-34 Digital Traffic (Y/Y)

Source: Optimal Advisory analysis, Similarweb, Bloomberg

Retail

Figure 13: Retail Gen Z Traffic Inflections

Source: Optimal Advisory analysis, Similarweb

Figure 14: Retail Change in Short Interest vs. Change in 18-34 Digital Traffic (Y/Y)

Source: Optimal Advisory analysis, Similarweb, Bloomberg

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