Tags: cramer | retail | stocks

Cramer: Retail Stocks Are a Bargain Right Now

By    |   Friday, 11 Dec 2009 04:48 PM

Jim Cramer said the retail sector is a good place for investors to place their money.

Cramer recently told the viewers of his "Mad Money" TV Show that Wall Street should support the sector.

“The prevailing wisdom on Wall Street is just too negative,” he said.

Analysts should be touting the retail sector instead of pushing investors away from it since demand for clothes, household items and electronics is increasing, Cramer said.

Clothing stores such as VF Corp, Jones Apparel and Macy’s are reporting more demand while Apple, Staples and Best Buy are generating more sales for computers and smart phones.

“You can stick with the bearish research reports if you want to," said Cramer, "but I'm positive you'll make more money with me.”

Consumers are also spending money on their houses again since gas prices are lower, he said. Sherwin Williams and Home Depot are reporting more demand.

The Commerce Department also reported that US retail sales rose by 1.2 percent, the Associated Press reported.

Analysts are still wary about long-term retail sales numbers figures.

“Consumer confidence is still down, and there's still great concern over people's jobs," said David Bassuk, a managing director in the retail practice at AlixPartners.

The November report is “not going to change consumer purchasing behavior overnight with that news,” he said.

Other experts said the report shows the global recession is receding, Bloomberg reported.

“Pent-up demand is beginning to be released,” said John Herrmann, chief economist at Herrmann Forecasting in Summit, New Jersey.

“Consumers are tapping into savings and beginning to spend. With the U.S. and global economy turning up, hours and incomes will continue to rise, supporting further gains in consumer spending.”

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Jim Cramer said the retail sector is a good place for investors to place their money.Cramer recently told the viewers of his "Mad Money" TV Show that Wall Street should support the sector.“The prevailing wisdom on Wall Street is just too negative,” he said.Analysts should...
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Friday, 11 Dec 2009 04:48 PM
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