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she's

American  
[sheez] / ʃiz /
  1. contraction of she is.

  2. contraction of she has.


she's British  
/ ʃiːz /

contraction

  1. she is or she has

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Usage

See contraction.