Update on Short Interest in the Retail Sector

North America retailers have reported a range of results over the past few DESLI U.S. Retailers weeks. The market did not have high expectations, so in many cases the results were not as bad as most investors had feared.

There were some exceptions, with Sears (SHLD) announcing an unexpected loss, due to a pension related write down. Urban Outfitters (URBN), a possible casualty of any CIT (CIT) failure, has seen its short base decline rapidly, almost halving during August. Other large declines in short base are evident in JC Penney (JCP), American Eagle Outfitters (AEO) and Big Lots (BIG). However, the large short bases in Saks (SKS), Buckle (BKE) and Children's Place Retail Stores (PLCE) continue to climb.