Jim Cramer: Department Stores Are Really Struggling
The retail sales number is less relevant due to the impact of Amazon.com on the entire sector, says Jim Cramer.
The retail sales number is less relevant due to the impact of Amazon.com (AMZN) - Get Report on the entire sector, says TheStreet's Jim Cramer. Retail sales in May climbed 0.5 percent, a touch above estimates of a 0.3 percent increase though a significant slowdown from 1.3 percent growth in April. Stripping out the effects of autos and gas, core retail sales increased 0.3 percent. Cramer said department stores like J.C. Penney (JCP) - Get Report , Kohl's (KSS) - Get Report and Macy's (M) - Get Report need to figure out their strategies to remain relevant themselves.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
