NEW YORK (TheStreet) -- TheStreet's Jim Cramer says Home Depot (HD) CEO Frank Blake is executing better than anyone in retail. He salvaged a planning season that started very late amid concerns of a shortfall.
Instead, the world's largest home improvement retailer reported second-quarter earnings that beat analysts' expectations thanks to an increase in customer purchases on mobile devices and a 38% increase in online sales. Home Depot also fully implemented its "buy online, pick up in store" functionality.
Cramer says Blake does not put up stores but instead gets more out of existing stores and e-commerce. Cramer's key takeaway from the conference call was that 36% of spending will go online, "the twilight of print and ultimately the real challenge to TV." He points to Google (GOOGL) , Facebook (FB) and Twitter (TWTR) in this regard.
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