Shorts Raise Bets Against Burberry

Burberry (BRBY) the high-end fashion retailer will shortly be giving a trading statement that is likely to show continuing tough conditions. The share price has increased 26% over the last 3 months from April 9th. The short market does not seem to think that the increase will last as the short base back (as measured by Percent Shares Outstanding on Loan) has risen 18% over the past month. The current short base of 5% is still significantly below the 52 week high of 47% which was hit on April 7th, 2009. Burberry has a similar short base to Fossil (FOSL) (5.06%) and Polo Ralph Lauren (RL) (4.66%) but is significantly below that of Bulgari (BULIF.PK) (10.67%).

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