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.

More from Video

What Angela Merkel's Uncertain Political Future Means for Greece's Debt Woes

What Angela Merkel's Uncertain Political Future Means for Greece's Debt Woes

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

Trump Threatens More Tariffs and 4 Other Stories to Watch Tuesday Morning

Trump Threatens More Tariffs and 4 Other Stories to Watch Tuesday Morning

Jim Cramer's Investing Rule 13: No Woulda, Shoulda, Couldas

Jim Cramer's Investing Rule 13: No Woulda, Shoulda, Couldas

REPLAY: Jim Cramer on Tariff Worries, Oil, Alphabet and Centene

REPLAY: Jim Cramer on Tariff Worries, Oil, Alphabet and Centene