Wall Street saw a strong set of earnings from Target (TGT) - Get Target Corporation Report and Lowe's (LOW) - Get Lowe's Companies, Inc. (LOW) Report Wednesday, with both stocks soaring in double digits in early trading.
Real Money Stock of the Day Target reported net income of $938 million, or $1.82 a share, versus $799 million, or $1.47 a share, in the comparable year-ago quarter. The real bullseye, however, was the fact that the retailer raised its full-year guidance.
In a morning column on Real Money, Jim Cramer wrote that Target's strong earnings can be attributed to a great CEO and a phenomenal turnaround strategy. "Cornell's doing it with terrific same-day pick-up initiatives and new store formats that were risky but now look like they are paying off," Cramer wrote.
Market pundits across the board widely agree that Target couldn't have had a better quarter, but how much does Target's success depend on a strong consumer?
Jim Cramer broke it down during TheStreet's Cramer Live Show.
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Editor's Note: This story has been updated.