CHWY - Broadlines/hardlines Web traffic slows and Evercore finds positive outliers

Online traffic for retail broadlines and hardlines names has hit its seasonal doldrums, Evercore ISI says - which means deceleration for about 10 weeks, before recovery at the end of September to set up for holiday shopping. Its Web Traffic Composite - which measures 60 U.S. retailers - fell by 7% year-over-year in the past two weeks. The traffic is still up mid-teens over 2019, but the two-year stack decelerated from 40% in June to about 25% in July. And it's expected to decelerate from week 28 to 38, or roughly the end of July through end of September. The composite fell 2-6% year-over-year in the last three weeks. On the positive side, it notes trends are still strong in Auto Dealers, Auto Parts and Pets - all of which continue to run above strong trends observed last year during the COVID-19 pandemic. The firm sees ongoing strength for Floor

For further details see:

Broadlines/hardlines Web traffic slows, and Evercore finds positive outliers