CNBC’s Jim Cramer on Wednesday provided a list of off-the-shelf retail stocks that investors should have on their radar.
“There is a glut of inventory at traditional retailers and big chains are desperate to get rid of this stuff so they can bring in a new product,”money madThe host said. “Non-price chains are buyers of last resort.”
Here is a list of companies that investors should look forward to:
The retail giants reported earnings this week, and some performed better than others.
Walmart outperforms profits and revenue In second-quarter results reported Tuesday. But the company Repeat his warning about profits last month, CEO Doug McMillon warned in an interview on Tuesday.Whoop in the street“Even wealthy consumers are becoming more economical because of inflation.
targeting Reported a larger than expected loss in profits Wednesday’s fourth quarter saw earnings down nearly 90% from the same period a year earlier. The company had warned in june That its plans to dispose of excess inventory would be a headwind to its bottom line.
Kramer said Target’s dismal results reflect consumers’ shift in appetite for experiences rather than merchandise, which stems largely from a desire to go outside after staying indoors during the height of the pandemic.
He added that while this change in consumer spending means there is a window for retailers to buy off-price, investors should understand that these stocks are long-term opportunities.
“That doesn’t mean they’re doing it great at the moment,” he said.