It's time for a change atop
, Jim Cramer said Monday on
"Stop Trading!" segment.
Cramer said the Bentonville, Ark., retail giant's latest weak same-store sales number shows that there is a "big management issue" keeping the company from participating in the rally that has driven up rivals like
. He said shoppers are shunning the chain because it is "such a hideous place to shop," a problem he says won't be addressed till there's an executive-suite makeover.
One particular problem, Cramer said, is that Wal-Mart's low-pay, low-benefit workers aren't knowledgable, and this scares away high-price purchasers. Explaining why Wal-Mart's not participating in the flat-screen TV craze, Cramer said, "You don't want to shell out 5 G's to a guy making 10 bucks an hour."
Cramer said it's time to lay off
following its run from $24 to $50. The stock is down in the low $40s now, but insiders have been selling like crazy.
"Everyone is unloading at the top," Cramer said. "That's worrisome to me." He said that business at the maker of plastic shoes is still good but that he'd wait for the stock to "find its footing."
Cramer brushed off bearish talk about Sam Zell's sale of
, saying Zell is too plainspoken to have failed to mention any possible misgivings about commercial property markets. Cramer also shrugged aside the latest
, saying, "If you hate it at 200 and 300, chances are you aren't going to embrace it at 500 either."
Finally, Cramer called
a buy, saying a negative Bank of America note was premature. Cramer still likes Sirius' momentum, though he doesn't like rival
At the time of publication, Cramer had no position in stocks mentioned.
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