SBUX, GME, TPR, SHAK, M, BLMN Callouts in Gen Z Inflections: May Updated Analysis

By David Schick and Jonathan Feeney and David Katzman and Jack Hermann Published on May 28, 2026 PDF

Summary: Our report analyzes Gen Z traction against short positioning, traffic trend, and mix composition across 113 names: (1) TPR, SHAK, BOOT lead Gen Z traction growth (Figure 1), all three also showing rising short interest; (2) BYD, BKE, SIG show the strongest positive inflection (Feb–Apr 2026 y/y vs. prior 3m trend); (3) GME, BROS, WING hold the highest Gen Z mix but are all inflecting negatively, while SHAK, BJRI, SHOO are inflecting positively; (4) GME, JACK, WING have rising short interest paired with declining Gen Z traction; (5) BYD, BLMN, HOG, BKE, SIG, and M lead or have notable sector inflection in Travel, Restaurants, Autos, Apparel, and Retail respectively. Gen Z traction is an early indicator of powerful demographic shifts.

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

Source: Optimal Advisory analysis, Similarweb, Bloomberg

Top traction gainers: TPR, SHAK, BOOT lead all 113 names in Gen Z traction growth (Figure 1), with TPR roughly doubling its 18-34 traffic year-over-year (+108%); all three are also showing rising short interest.

Short interest callouts: GME, JACK, WING 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 SHAK, SHOO, BJRI are inflecting positively (Figure 2). Strongest Gen Z traffic Y/Y growth: BKE, BJRI, BYD (Figure 3).

Strongest positive inflections (Feb–Apr 2026 y/y vs. prior 3m trend): BYD, BKE, SIG (Figure 4).

Sector leaders

Travel / leisure: BYD, VIK, WYNN leading on inflection; BYD, VIK, BKNG leading on Y/Y growth.

Restaurants: BLMN, DRI, CBRL leading on inflection; SHAK, DASH, CAVA leading on Y/Y growth.

Automotive: HOG, KMX, LCID leading on inflection; CVNA, AN, KMX leading on Y/Y growth.

Apparel & golf: BKE, PVH, SHOO leading on inflection; TPR, BOOT, LULU leading on Y/Y growth.

Retail: SIG, FIVE, M leading on inflection; TSCO, WSM, ASO leading on Y/Y growth.

All Companies

Figure 2: Top 10 Gen Z Traffic Mix Apr ’26 vs. Apr ’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 (Jan ’26 Y/Y → Apr ’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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