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Jo-Ann Stores, Inc. (JASA) Message Board

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  • yy_wickey yy_wickey Oct 24, 2002 1:40 PM Flag

    Short interest

    Thank you for publishing that link for the short interest. Question for anyone-when it says 12 days to cover, is that what causes a so called 'short squeeze'? Surely it would not take 12 days to cover? And the closer we get to earnings, won't those numbers will drop? The stores appear to be busy.
    ps-My wife uses the 40% off coupons a lot-joann's must lose on that deal!

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    • The 12 days is just a very rough number--the short interest divided by the average daily volume. IF the average volume stayed the same from now on and IF all the buying from now on were for short covering, then it would take 12 days for the shorts to extricate themselves.

      I assume the 40%-off coupons are worth it because they get people into the stores, at which point--in theory--they then are unable to keep from buying other things.

      But if people never buy anything there without a coupon then, yes, it's probably not a great deal for Jo-ann's. So tell your wife to stop using those coupons so much and pay full price on all her purchases.

      • 1 Reply to mr_moribund
      • Again I thank you, this time for the explanation on 'short interest'. Let me tell you about my wife's shopping experiences at JoAnns. They put out a small ad flyer every 3-4 weeks or so and the "40% off one item" coupon always sends her to JoAnns!

        She comes home with more than 1 item every time! She usually averages $15-20 per visit; but she also makes an occasional big purchase every other second month or so. Those times can run any where between $60-$100. The last big purchase was a White sewing machine, around $250.

        To back up what someone said here earlier, she said the stores have been getting more crowded over the past couple of years. Apparently they have a better selection than Hancocks, their local competitor. She doesn't go to Hancocks at all anymore, unless JoAnns doesn't have what she needs or is out.

        The last time she went to hancocks was over a year and a half ago; so JoAnns must stay in stock pretty good! She visits 2 JoAnns near us; one is 'messier' than the other, but just as crowded. Both were originally Cloth World stores, so maybe the layout is old.