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. 

TST Recommends

"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.