Wait and see.
The company posted net income of $759 million, or 62 cents a share, which is up from $739.6 million, or 58 cents a share, in the same quarter last year. The EPS results matched the consensus estimate of analysts polled by FactSet.
"This quarter marks the 20th straight quarter of customer traffic increases at TJX and Marmaxx," CEO Ernie Herrman said in a statement. "This speaks to the consistency and fundamental strength of our treasure-hunt shopping experience through many types of retail and economic environments."
Cramer responded, "Wait until [Wednesday, Aug. 21] there'll be some analysts who will cut numbers of price targets and that will be your chance. And I know it looks like a daunting thing to get in there and buy TJX at this stage. But TJX is a play on the excess inventory in the channel. So that's what you should be thinking about."
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