Despite better than expected second quarter results, Target (TGT) isn't the best retail stock around.
TJX Companies (TJX) remains the name to own, TheStreet's founder and Action Alerts PLUS portfolio manager Jim Cramer said in an interview. Hard to argue with that logic following TJX's solid quarter on Tuesday amidst the broader retail carnage.
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This year, the owner of TJMaxx, Marshalls and HomeGoods will open 260 new stores. Among them will be its premier home decor line, HomeSense, CEO Ernie Herrman told analysts during an earnings call on Tuesday following the second-quarter earnings release.
"The customer is clearly telling us that brick-and-mortar retail continues to be an essential part of the shopping experience, certainly when it is executed right with the right values," Herrman said. "All of this gives us confidence in our long-term global store growth potential."
These new openings, according to Herrman, bring TJX closer to its long-term goal of having 5,600 outposts worldwide.
In other news, Sears (SHLD) continues to die.
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