Four Retail Stocks with Significant Short Covering

In this post, we are going to talk about the consumer apparel sector, which naturally, will have an effect on the Christmas sales period.

Starting with DRAX (DRXGF.PK), which has seen some short covering; down from 9% of its shares outstanding on loan (%SOOL) in September to 3% now. The company’s share price has also fallen, from 800p to 500p in the same timeframe. Utilisation is at 10%, down from 35% in August.

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Escada (ESCDY.PK) has also seen a wide amount of short covering as well as a fall in share price. It is down from 6% SOOL in July to 2% now, and the share price has fallen from 14EUR to 4EUR now. Utilisation is at 30%.

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Nike (NKE) has 5% SOOL, down from 9% in October. The share price has fallen from $67 in October to $50 now. Utilisation is at 21%.

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Finally, Hermes (HESAF.PK), who has also seen a significant amount of short covering, down from 11% in June to 7% now, but is up from 4% in December. Over the past year, the share price has risen from 60EUR in January, to 104EUR now. Utilisation is at 66%.

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Disclosure: None