Retail Sales Data came in lower than expected and Macy’s disappointed on earnings, suggesting that consumer discretionary spending trends are affecting the bottom line. TheStreet’s Jill Malandrino and Stephanie Link review Macy’s quarter, what it means for the retail sector and which stocks look attractive as the key Back-to-School season kicks into high gear. Link and Cramer recently added to the PVH position in Action Alerts Plus, and Link explains even though the company has stumbled a bit price levels are very attractive here and earnings could be at an inflection point. Investment and restructuring initiatives should start to kick in and Link wants to be ahead of that, especially as comps get easier.

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