Company turnarounds were on Jim Cramer's mind ahead of a Mad Money interview with Bed Bath & Beyond (BBBY) - Get Report CEO Mark Tritton Tuesday.
"I am betting with, not against, both men. Too much good happening. Too little bad. That's how successful turnarounds start and I see exactly that with both IBM and Bed Bath & Beyond, Cramer wrote.
Following Cramer's with Tritton, he gave TheStreet Live an update on Bed Bath's turnaround, telling Action Alerts PLUS senior analyst that the retailer is well on its way under Tritton's leadership.
Cramer said that Bed Bath first had to clean out some bad actors from the former management and then cement its ecommerce plans, but the new New York flagship store marks a new stage in the company's turnaround plan.
"They are in inning 3 [of their turnaround]... year three is offense," Cramer said.
In the video above, Cramer explains how the back-to-school shopping season could be a further tailwind for the stock.
Recap TheStreet Live: Everything Jim Cramer Is Watching 7/21/21