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What Retail Earnings Tell Jim Cramer About Markets Wednesday

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As markets sought direction in intraday trading ahead of Friday’s virtual Jackson Hole Federal Reserve address, Jim Cramer said an interesting dichotomy is emerging in retail.

Amid earnings from many of the major retailers, Cramer said a tale of two retailers is emerging with Best Buy  (BBY) - Get Best Buy Co., Inc. Report and Dick’s Sporting Goods  (DKS) - Get Dick's Sporting Goods, Inc. Report in one bucket and Nordstrom  (JWN) - Get Nordstrom, Inc. (JWN) Report and Urban Outfitters  (URBN) - Get Urban Outfitters, Inc. Report in another. Cramer said the prior group has emerged as the winner.

“Some people prepared for delta and spent a fortune online, understanding the consumer. Other people are trapped in their own skin and were not aggressive and relied on fashion.”

“This was not a fashion quarter,” Cramer concluded.

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