Jim Cramer: TJ Maxx, Ross Stores Are The Retail Names To Own
Jim Cramer says the retail report last week showing increased spending online underscores continued margin pressure for department stores.
TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said the retailers who reported quarterly results last week showed increased spending online and underscores continued margin pressure for department stores. 'They're getting eviscerated,' he said. 'They exist to raise prices and can't. What they can't sell goes to TJ Maxx (TJX) - Get Report and Ross Stores (ROST) - Get Report at a discount. They emerge as the winners, which is why investors should be buyers of both names.'
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
