Jim Cramer: L Brands Woes Throws Spotlight on Macy's, Kohl's

Investors should pay attention to Macy's (M) - Get Report and Kohl's (KSS) - Get Report in the wake of L Brands (LB) - Get Report earnings preannouncement, says TheStreet's Jim Cramer. Shares of L Brands are down sharply today on heavy trading as the Columbus, OH-based company cut its 2016 fiscal third-quarter earnings forecast to about $0.40 a share, down from its prior range of $0.40 to $0.45 a share. Analysts surveyed by FactSet are looking for adjusted earnings of $0.46 a share. The operator of Victoria's Secret and Bath & Body Works stores said it expects comparable-store sales to be up 1% in October, while analysts surveyed by FactSet are looking for an increase of 1.7%. L Brands sees Victoria's Secret posting a 2% decrease in comparable-store sales for the month, while Bath & Body Works is expected to post a 6% increase.