Shares of Bed Bath & Beyond (BBBY - Get Report) have struggled, down 20% over the past year and 43.5% over the past three years. Will the retailer's fortunes reverse when the company reports on Wednesday after the close?

Sentiment has gotten so bad for retail and Bed Bath & Beyond. Sometimes when sentiment is poor, the results, even if mediocre, actually boost the stock price. But if that happens, investors should use that rally to sell the stock, said TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio.

Speaking from the floor of the New York Stock Exchange, Cramer said investors looking for strip mall retailers should not look at Bed Bath. Instead, investors should consider stocks like Burlington Stores (BURL - Get Report) or TJX Stores (TJX - Get Report) .

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Bed Bath & Beyond has just struggled too much. It's not worth owning when there's other high-quality stocks out there. That's why Cramer suggests selling the stock if it indeed moves higher on earnings.

Analysts expect the company to earn $1.77 per share on $3.5 billion in revenue. While sales would be up 2.4% from last year, earnings would be down from $1.91 per share from the same period one year ago.

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