Note: Below is a full transcript of an interview originally published on Jan. 10, 2013.NEW YORK ( TheStreet) - Lindsey Bell:Jim, Tiffany's is taking a hit this morning after they reported weaker than expected holiday sales. Is this a company specific issue, or can we still say this is high-end consumer issue? Jim Cramer: I'd say Lindsey when you keep missing your quarter, at a certain point, you have to say, wow, maybe they've lost their edge. Maybe they're doing something wrong. I've been working on a thesis that perhaps they missed the market, that maybe they've lost the appeal of younger people and maybe demographically they're challenged. I say that because when you miss, and you miss and you miss...I've been involved in companies where you see this pattern. What happens is that someone's just not getting it right. We've had a lot of companies like Urban Outfitters. They miss, they miss, they miss, they change management and then, boom, they got it right. Macy's used to miss it. They changed management, got it right. JC Penny changed management, got it wrong, but Tiffany I think, has to start thinking, is our strategy right, or is our management right because they're missing too many times. Nordstrom's hasn't missed like they have. Nordstrom's has a very high-end clientele. Now, Coach, you could argue they did. Coach made a mistake and they've corrected their mistake, but Tiffany's has missed too much. It's enough. They've got to really re-examine what they're doing wrong. Lindsey Bell: You know, it's a good point because Signet Jewelers, which operates Kay Jewelers and Jared's, they came out earlier this week and raised guidance. I mean, it's a little bit off a lower-end consumer, but maybe is Tiffany's customer trading down to a lower price point? They're doing a lot of things with their product line. Jim Cramer: If that's the case, then Tiffany has to offer, like Apple's offering a lower-end product. Lindsey Bell: Yeah. Jim Cramer: I'm not saying Tiffany is Apple, but I do think that at a certain point, you can only blame the environment for so long. I think two days from now, Tiffany will be up again because there's always someone who says,"Well, it's a great brand name and you shouldn't sell Tiffany's." Lindsey Bell: Okay and what about Ascena? Jim Cramer: David Jaffee, the CEO, was on our show and he was saying listen, I might have missed the mark, but I think that he really missed the mark. I've been going back over that interview and thinking, wow he came on the show, it was a terrible Christmas for him and I'm really trying to rethink my view there because I do like the multiple concepts, but I knew it was tough Christmas, I just didn't know it was horrible and it was truly horrible. There's one where the company's going to have to take a hard look at what it's been doing because if it's one of its divisions, say it's just Justice or Maurice, that's okay. If it's two, that's okay, but it was almost every one and that's worrisome. Lindsey Bell: So stick with the retailers that are getting a holiday gifts right, have the right product and people. Jim Cramer: Yeah. I mean, Ascena was really disappointing. Lindsey Bell: Okay. Thank you.