Short Interest Update: Gap, Saks, Target, Tiffany & Co.

GAP's (GPS) sales figures are due to be announced today, and from this graph below, it is clear to see that short positions in this stock have decreased in the last three months. It is down from 4.5% of its shares outstanding on loan (SOOL) to 1.78% now. The share price has also declined from $20 in September to $13 now.

click to enlarge

Elsewhere in the American retail sector, Tiffany & Co (TIF) has a larger amount of short interest, with 10% SOOL, down from 14% in August, however an increase from 8% in June. Utilisation is at 34%, up from 25% in October. Tiffany's share price has fallen over the last six months from $47 in June to $17 now.

Target (TGT), the general merchandise and food discount store, has 5% SOOL in August, a three-year high aside a dividend trade the year before. Since August the figure has ebbed and flowed around the 3% to 4.7% mark, so short interest has not been significant. Target's share price has fallen since the summer, from $57 in September to $30 now.

Saks (SKS), who were mentioned earlier this week, now have slightly less %SOOL, down from 15.8% to 14.2% since the end of last week. Utilisation is at 64%. Over the past year Saks' share price has fallen from $20 to $5, even though the %SOOL has decreased in general from around 24% in December 2007 to 15% now.

Disclosure: None

Comments

[Pipo:]

BJ is the stock to look in the retail space.

BJ stock is up 16% in the last year. Fantastic performance from this retail company.

Herbert Zarkin, CEO of BJ's Wholesale gave an interview today:

ceotalk.blogspot.com/

2008 Dec 04 05:52 PM