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Baird analysts in a Morning Report calculated the short interest levels across the fashion and wellness sector for the Jan. 31 reported period.
Analysts said short interest levels can be helpful in evaluation shifts in investor sentiment. They ranked the short interest as a percentage of the float, as of the end of January.
Savers Value Village (NYSE:SVV) had the highest short interest with 37.5% of the float sold short. It was followed by Kohl’s Corp. (NYSE:KSS) with 26.8%, above the one-year average of 22.1%; and Revolve Group (RVLV) with 26.2%, above the one-year average of 25.5%.
Companies with the lowest short interest included The TJX Co. (TJX) and Ross Stores (ROST) at about 1% each, and Lululemon Athletica (LULU) at 2.6%.
“Overall, short interest across our coverage was modestly lower sequentially with a median of 5.2% (compared to 5.7% exiting December),” analysts wrote.
The report also showed increases in shares sold short in companies including Warby Parker (WRBY), Ulta Beauty (ULTA) and Birkenstock Holdings (BIRK), and decreases in Urban Outfitters (URBN), Lululemon (LULU) and Tapestry (TPR).
Short interest as a percentage of float, ranked from highest to lowest:
- Savers Value Village (SVV) – 37%
- Kohl’s Corp. (KSS) – 27%
- Revolve Group (RVLV) – 26%
- Birkenstock Holdings (BIRK) – 20%
- The RealReal Inc. (REAL) – 17%
- The Gap Inc. (GPS) – 13%
- Warby Parker (WRBY) – 10%
- Urban Outfitters (URBN) – 7%
- e.l.f. Beauty (ELF) – 6%
- Capri Holdings Limited (CPRI) – 5%
- Burlington Stores (BURL) – 5%
- Bath & Body Works Inc. (BBWI) – 3%
- Ulta Beauty (ULTA) – 3%
- Tapestry (TPR) – 3%
- Lululemon Athletica (LULU) – 3%
- Ross Stores (ROST) – 1%
- The TJX Companies (TJX) – 1%