Jim Cramer's Mad Dash: Retail Winners

NEW YORK (TheStreet) -- On Friday, Polo Ralph Lauren (RL) reported a top and bottom line earnings beat. However, shares opened lower on weaker-than-expected guidance. 

On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said investors likely viewed the selloff in Ralph Lauren as a buying opportunity. The stock quickly rallied from its morning lows on Friday, nearly erasing the deficit by the end of the session.

If investors want a "really terrific" company that trades at a discount to its peers, then they should buy shares of Ralph Lauren, he added. 

"I think spring is coming in very well for retail," Cramer went on to say, pointing out the strong sales results from Costco Wholesale (COST) and Gap (GPS). 

He admitted that Whole Foods Market (WFM) and Panera Bread (PNRA) have reported disappointing earnings, but attributed that to increased competition, not to a sluggish consumer. 

Cramer concluded that he is a buyer of Ralph Lauren, after it was downgraded today by Credit Suisse to hold from buy.


-- Written by Bret Kenwell in Petoskey, Mich.

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

If you liked this article you might like

Hurricane Irma's Approach Brings Down S&P 500 but Travelers Saves Dow

Stocks Finish Mixed as Hurricane Irma Barrels Toward Florida Coast

Dow Rallies as Travelers Rebounds but Rest of Market Trails Ahead of Irma

Wall Street Turns Mixed as Hurricane Irma Watch Keeps Trading Cautious

Stock Futures Point Lower as Hurricane Irma Barrels Toward Florida