NEW YORK (TheStreet) -- It was only a matter of time before people started talking about the consumer having more money in his or her pocket due to lower gasoline prices, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Stop Trading" segment.
Stocks like Macy's (M - Get Report) and Kohl's (KSS) are higher, despite the disappointing earnings report from Michael Kors (KORS - Get Report), and that's likely because gasoline is so low, Cramer said.
Lower gas prices mean consumers have more money to spend. When combined with the back-to-school season, these retailers could get a much needed boost, he concluded.
-- Written by Bret Kenwell in Petoskey, Mich.