Shares of L Brands (LB) - Get Report are off session lows, but still down 1.5% Tuesday after analysts at Jefferies cut their price target on the stock. Shares are hitting new three-year lows on the day. 

This is another mall-based retailer that's struggling for traction, TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment. 

The analyst points to a possible peaking in Pink, one of L Brands' divisions within Victoria's Secret that was responsible for a good portion of its growth. If Pink is peaking, that's bad news for L Brands. 

"The mall is just too hard," Cramer reasoned, pointing to other companies, such as GameStop (GME) - Get Report , Macy's (M) - Get Report and Sears (SHLD) as just a few retailers that have fallen on hard times. 

"I'm very worried," he added, in regards to the mall. But not all of retail is tattered. Cramer pointed out that Amazon(AMZN) - Get Report obviously continues to do well, as does Burlington Stores (BURL) - Get Report

Image placeholder title

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.