Shares of Tiffany  (TIF - Get Report) have not done all that well lately, down 8% on the year and lower by 18% over the past 12 months. 

Investors are hoping the company is able to turn it around come Friday when the high-end jeweler is scheduled to report earnings before the open. Analysts are looking for the company to earn $1.41 per share on $1.22 billion in revenues, according to Yahoo! Finance. 

The stock has been "trashed," according to TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio.

High-end retailers have been struggling in the current economic environment, he explained, noting that Restoration Hardware (RH - Get Report) has also struggled, down 63% over the past six months.

However, mid-range retailers have been doing much better. As a result, Cramer said he likes shares of Target (TGT - Get Report) . Earlier this week he praised accessories companies including Coach (COH) . 

Does Tiffany management have any credibility left? All Cramer had to say was the company better beat estimates on Friday, otherwise any remaining credibility will be "shot." Management has cut guidance too many times now and it's time to deliver for a change. 

Earlier this week, shares of Tiffany were downgraded to neutral from buy by analysts at Citigroup.

 

 

At the time of publication, Cramer's Action Alerts PLUS had a long position in TGT.