CNBC's Jim Cramer said retail outfits managed to draw in consumers by rolling back prices.
As major retailers start to report earnings this season, CNBC's Jim Cramer suggested why some companies managed to draw in shoppers in a changeable consumer environment.
To him, outfits like Walmart, Target, TJX and Costco fared well because they have low prices, attracting consumers tired of inflation and more selective about where they shop.suggested why some companies managed to draw in shoppers in a changeable and sometimes oblique consumer environment. To him, outfits likehave fared well because they have low prices, attracting consumers tired of inflation and more selective about where they shop.
"Can we please stop drawing a new conclusion every day about the consumer with each passing earnings report? No two retailers are alike," he said. "The ones that rolled back prices — Target, Costco and Walmart— have had terrific sales, the ones that haven't, not so good." Cramer said consumers aren't "frugal or tightfisted or sad or happy." Instead, he said they are willing to spend, but on goods they deem to have bargain prices.on Wednesday, even as management provided a cautious sale outlook. The company said its same store sales growth was driven by increased foot traffic, and CEO Brian Cornell said price reductions contributed to the success. Traffic is an important metric to analyze consumer health, Cramer said.
"When you give the consumer what she wants – which is rolled back prices — she stays healthy as long as she has a job," Cramer said. "If you know the employment number, you'll know what the retail sales will look like. It's just that individual retailers are all over the place in terms of their performance."
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