Updated from 7:08 a.m. EDT

With the holiday shopping season just around the corner, investors are taking a closer look at retailer stocks. After

Macy's

(M) - Get Report

reported a quarterly loss and

Best Buy

(BBY) - Get Report

lowered its earnings guidance, the retailers have taken a beating. However, stock shoppers may find some hidden bargains.

With most investors are bearish about retail stocks during this holiday season, if some of the retailers surprise on the upside, there could be some short-term opportunities. Although some of the higher-end retailers may be hurt, such as

Tiffany

(TIF) - Get Report

, which TheStreet.com Ratings

downgraded last week

, bargain-hunting consumers will likely turn to shopping at stores such as

Sears

(SHLD)

and

Wal-Mart

(WMT) - Get Report

.

On Sept. 19, Sears was one of the

10 top-searched stocks on TheStreet.com

. In the "Lightning Round" segment of his

Mad Money

TV show on Sept. 18, Jim Cramer, who has been a fan of Sears Chairman

Eddie Lampert

, said about the stock: "Lots of people have been selling this one short. There are more shares sold short than exists. This one is sitting pretty and I'm long Sears."

In addition to giving Sears a second look this holiday season, investors might want to check out Lampert's other retail holdings. In a June 2007 episode of "Mad Money," Jim Cramer said that piggybacking off big-name investors can sometimes be "better than coming up with your own ideas." In such a volatile market, it certainly can't hurt to see what someone with as many successful investments under his belt as Lampert is dipping into now.

To read more,

visit Stockpickr.com

.

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